This Study re-affirms that the energy efficient renovation of the EU building stock is one of the most attractive and low cost options available to the EU to save energy, reduce CO2 emissions and reduce dependence on imported fuels.
In addition, it finds that the pursuit of ambitious energy efficiency renovation programmes in the EU will bring permanent annual economic benefits to public finances and to society at large.
The Study uses two possible energy efficiency scenarios to estimate the range of benefits that can be grasped. The first is the “Low Energy Efficiency” scenario, which assumes a high level of policy initiative and the use of cost-effective measures in the specification of works to buildings. The second is the “High Energy Efficiency” scenario which, in addition to a high level of policy initiative assumes that the current best available technologies are used in every renovation project. The use of these two scenarios allows a range of potential benefits to be estimated.
The Study also finds that now is a very good time to initiate ambitious energy efficiency renovation programmes in the EU with a long-term view as we are in a period of economic recession with very low interest rates and high levels of unemployment. Boosting activity in the sectors associated with energy efficient renovations of the existing building stock will significantly increase the speed at which the EU can exit the current crisis and this will bring a temporary, but important, boost to GDP in the period up to 2017 when the economy is expected to return to its structural GDP level.
To download the study, please go to the Renovate Europe website here.