The Commission has pledged to support ways to simplify access to existing financing to make building stocks more energy-efficient, considering their 40% share in total energy consumption and generally low rate of renovation and efficiency.
Energy Performance Contracts (EPCs) provide a financial solution for renovation projects attractive to both public authorities and private businesses. Under an EPC, a private energy service company (ESCO) funds and carries out the renovation of a public building, while the public agency enjoys a performance guarantee.
However, current EU accounting rules (ESA 2010) are making it difficult for many Member States and their local authorities to develop programmes to renovate public buildings, as energy performance investments — despite being private — negatively affect public finance balance. This issue is also well recognised in the February 2015 Final Report of the Energy Efficiency Financial Institutions Group, established by the Commission and the United Nations Environment Programme (UNEP) Finance Initiative.
Can the Commission indicate what it intends to do to ensure that EU accounting rules no longer prevent Member States from leveraging sufficient private financing to boost the renovation rate of, and secure significant energy savings from, the EU’s building stock?
Does the Commission also intend to put in place an interdisciplinary task group to address this and other issues?