President François Hollande announced recently that he would allow the refurbishment of 1 million existing houses per year thanks to France's CO2 allowances savings.
Such a commitment is in line with the 20% energy savings target that all EU member states committed to achieve by 2020.
Good news for energy retrofitting in France!
But the EU member states shall not be left behind...
According to the Commission, the investments needed for member states to reach their targets would require around €50 billion euros.
Euractiv maintains that this money will be sourced from the EU's 2014-2020 budget according to what EU Energy Commissioner Günther Oettinger announced: "I think it is very sensible that in the budget discussion we are going to include a set of objectives that we will be co-financing to promote energy efficiency. We need incentives in the best sense of the word, we need to encourage local authorities to invest in energy efficiency," Oettinger said.
More information: Web article on Euractiv.com