Energy efficiency plays a key role in the process of reducing greenhouse gas emissions by at least 55% by 2030. Achieving these reductions in the next decade is crucial to make Europe the first climate-neutral continent by 2050 according to the European Green Deal.
The European “Renovation Wave” strategy highlights how energy renovation of buildings is essential to reach this target, reducing consumptions and replacing fossil energy sources with renewable ones.
Currently 75% of the European building stock is energy inefficient and the current renovation rate (between 0.4% and 1.2%) is not sufficient to achieve the decarbonisation targets set for the 2050. To overcome this situation, the Italian strategy foresees that in the next 30 years 2/3 of the existing buildings must be renovated. This means that the current restructuring rate will have to double (from 0.85% to 2%) in 2020-2030 and triple in 2030-2050 period.
To support this process, it is essential to put in place adequate financial instruments that encourage and allow the realization of the necessary investments in energy efficiency to reach the renovation target.
The challenge is to create and develop an effective context in which both public and private entities can find the right initiatives and partners to carry out energy efficiency projects that can be easily financed by banks and other investors.
First, several issues need to be resolved to ensure a de-risking process of investments in energy efficiency:
- What are the main barriers currently blocking the investment potential in energy efficiency
- in the construction sector?
- How to involve and support stakeholders in a more effective way, and how to strengthen relationships built on mutual trust?
- What is the capacity of each stakeholder to support market development, and how to help provide assurances of high-quality work in (deep) renovation?
- How to exploit and bring together public and private funding to support investments in energy efficiency?
- How to aggregate projects and increase investments, bridging the gap between the financial and energy efficiency sectors?
- In what way policymakers can effectively support this process?
The GREENROAD – Growing Energy Efficiency Through National Roundtables Addresses – project aims to:
- OBJECTIVE 1: set up permanent national roundtables and territorial focus groups to facilitate the dialogue among stakeholders as well as decision-makers to promote changes starting from the real needs of the market.
- OBJECTIVE 2: create through the roundtables opportunities to jointly identify the most effective measures and the best practices for energy efficiency in buildings accelerating their
- implementation and replication.
- OBJECTIVE 3: improve the bankability of energy efficiency projects, through specific training activities for those involved in the renovation process of the building stock.
- OBJECTIVE 4: facilitate the development and monitoring of energy efficiency measures at national and local level.
Given the complexity of the barriers that hinder the financing of energy efficiency interventions in buildings, there is no one-size-fits-all solution. It is therefore essential that both the demand and the supply side communicate to identify the most suitable and accessible solutions. To achieve this, GREENROAD uses a dual approach:
- TOP-DOWN: Establishment of roundtables at national level with institutional stakeholders, in order to: allow in-depth discussion on the current obstacles and shortcomings in the market, share best practices and show innovative financing solutions, aiming at also identifying the political and regulatory framework needed to support and improve their effectiveness.
- BOTTOM-UP: Organization of events at local level involving the largest possible number of operators, investors, associations, local authorities, and institutional subjects active in the energy efficiency sector, contributing to the development of the skills necessary to carry out energy efficiency actions. Local needs will also be analysed in order to identify new solutions and good practices to replicate.
- Lessons learnt and feedbacks from the actors and operators involved in the project will be used to develop strategies, overcome barriers, and adapt / replicate the “success stories” on a larger scale.
- On the basis of what emerged from the many activities and analyses carried out during the project, a programmatic document will be drawn up containing recommendations for the design of new actions and policy measures, as well as for the modification and integration of existing policies, at local and national level.
- At the end of the project, a strategy will be developed for the creation and operation of a highly representative permanent forum that can continue the activity undertaken in the national roundtables and maintain an active dialogue between public and private stakeholders both at national and local level.
- To increase investments in energy efficiency in the building sector
- To improve the dialogue between public and private stakeholder, and who finances the investments in energy efficiency
- Recommendations for financial instruments and new measures to promote energy efficiency
- Strategy to set up of a permanent forum
- National roundtables
- Local events
ENEA is the coordinator of GREENROAD project. ENEA is the National Agency for New Technologies, Energy and Sustainable Economic Development, a public body aimed at research, technological innovation and the provision of advanced services to enterprises, public administration and citizens in the sectors of energy, the environment and sustainable economic development. ENEA plays the role of National Agency for Energy Efficiency
ABI Lab is the Research and Innovation Centre promoted by the Italian Banking Association. Through its Centres of Excellence, ABI Lab conducts primary research in key areas including, Digital Transformation, Fintech, Blockchain/DLT, Cybersecurity, AI, IT&Operations and Sustainable banking Transition.
Ambiente Italia is a srl is a research and consulting company consulting company that has been working for thirty years on energy and environmental issues. In GREENROAD project it coordinates the mapping of the state of the art of energy renovation of buildings and the identification of the main barriers. It is also involved in monitoring the impact of the project actions.
Gestore dei Servizi Energetici – GSE S.p.A. is the State-company owned by the Ministry of Economy and Finance which promotes the issues of sustainable development by granting incentives for energy production from renewable sources and for energy efficiency.
GSE is the holding company of three other companies: Acquirente Unico S.p.A. (AU), Gestore dei Mercati Energetici S.p.A. (GME), Ricerca sul sistema energetico – RSE S.p.A. (RSE).
The Institute for Competitiveness (I-Com) is a think tank founded in 2005 with the ambition to promote debates and analyses on competitiveness concerning innovation in the Italian, European and international politico-economic contexts. The main areas of interest of I-Com are: digitalization, energy, innovation, health and institutions. As a partner of GREENROAD, the institute supports the project in all transversal activities, with particular reference to the systematization of the results of national round tables and local focus groups.
Sinloc is a consulting and investment company, owned by ten of the most important Italian banking foundations, which is active on both national and European level. In the projects we are involved, great importance is attributed to economic, financial, social and environmental sustainability. Within the Greenroad project, Sinloc will define the action plans aimed at Public Administrations and private operators to promote the market of energy efficiency investments in the building sector in Italy. Sinloc will implement actions under policy and financial instruments, resulting from the Round Tables national and local Focus Groups.