Investing in energy efficiency in Europe’s buildings: A view from the construction and real estate sector

Highlight / Report / 25-04-2013 / Europe / English
Authors: A report from the Economist Intelligence Unit (EIU), commissioned by the GBPN, in collaboration with BPIE

An EIU survey commissioned by the GBPN in collaboration with BPIE about the European real estate and construction executives's opinion of energy efficiency in the building sector.


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Investing in Energy Efficiency in Europe’s Buildings: A View from the Construction and Real Estate sectors

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Deep Renovation or Deep Energy Renovation is a term for a building renovation that captures the full economic energy efficiency potential of improvements. This typically includes a focus on the building shell of existing buildings in order to achieve very high-energy performance. The renovated building consumes 75% less primary energy compared to the status of the existing building before the renovation. The energy consumption after renovation for heating, cooling, ventilation, hot water and lighting, is less than 60 kWh/m2/yr. (Definition often used in Europe) [Source: GBPN, 2012]

The ratio between the energy services provided and the energy consumed. Something is more energy efficient if it delivers more services for the same energy input, or the same services for less energy input. [Source: IEA Glossary]

Under this 2010 Directive, Member States must establish and apply minimum energy performance requirements for new and existing buildings, ensure the certification of building energy performance and require the regular inspection of boilers and air conditioning systems in buildings. Moreover, the Directive requires Member States to ensure that by 2021 all new buildings are so-called 'nearly zero-energy buildings'. [Source: European Commission]

Project finance, by contrast to balance sheet financing (loans, debt and equity), bases its collateral on a project’s cash flow expectations, not on individuals or institutions’ credit‐worthiness. It is off‐balance sheet financing. A typical project finance is divided between debt and equity financing. Debt is usually a conventional commercial bank loan to which a customer pays interest (i.e. thereby paying for the loan and the price of the debt). Lenders normally charge a pre‐determined rate of interest that is set by adding an interest margin to the banks standard inter-bank lending rate, which represents its income. [Source: IEA (2010) Money Matters]