Investing in Energy Efficiency in Europe’s Buildings. A view from the Construction and Real Estate Sectors

Highlight / Report / 25-04-2013 / Europe / English
Authors: The Economist Intelligence Unit on behalf of the GBPN

A survey among building sector and real estate business executives in Europe on the feasibility of implementing energy efficiency measures across their sector 



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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]

Deep retrofit or Deep Energy Retrofit implies replacing existing systems in a building with similar ones that are of higher quality and performance, which leads to a better energy performance of an existing building. The primary energy consumption includes energy used for heating, cooling, ventilation, hot water, lighting, installed equipment and appliances. After the deep retrofit the buildings consume 50% less primary energy compared to the status of theexisting building/s the retrofit (Definition mainly used in US). [Source: GBPN, 2012]

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]

A collection of policies and programmes that support the implementation of a common goal.

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]