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Financing Energy Efficiency. Philip Lowe Director General Directorate-General for Energy. The EU 20-20-20 targets by 2020. Reduce greenhouse gas emissions by 20%. Increase share of renewables to 20%. Reduce energy use by 20%. 100%. Current trend to 2020. Current trend to 2020. -20%.

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financing energy efficiency

Financing Energy Efficiency

Philip Lowe

Director General

Directorate-General for Energy

the eu 20 20 20 targets by 2020
The EU 20-20-20 targets by 2020

Reduce greenhousegas emissions by 20%

Increase share of renewables to 20%

Reduce energyuse by 20%

100%

Current trend to 2020

Current trend to 2020

-20%

-10%

Current trend to 2020

20%

despite untapped savings potentials across all major sectors

100

Remaining saving potential to be addressed with new measures

80

11%

60

Savings expected to be achieved with already existing measures

Economic potential [Mtoe]

40

16%

2%

20

5%

Industry

Commercial

Residential

Transport

Sectors covered by EED

Despite untapped savings potentials across all major sectors
policy response a new energy efficiency directive

Sectoral measures

General

promotional

measures

Indicative national

EE targets

Monitoring & Reporting

Policy response: a new Energy Efficiency Directive

Public

sector

House-

holds

Services

Energy

supply

Industry

new

EED

and beyond 2020
…and beyond 2020?
  • Roadmap 2050
    • Explore routes towards a low-carbon energy system by 2050
    • Give more certainty to governments and investors
    • Energy efficiency is a ‘no-regrets’ option
    • Well-functioning energy markets are key
what is the investment need
What is the ‘investment’ need?
  • Energy savings potential across sectors requires investment of around 850 billion € (2011-2020)
    • Around 85 billion € per year
    • Buildings take the lion’s share of around 60 billion € per year
what is currently available at eu level
What is currently available at EU level?
  • Cohesion policy funds (2007-2013):
    • 4,6 billion € for energy efficiency
  • Intelligent Energy Europe Programme (2007-2013):
    • 735 million € for ‘soft’ energy efficiency/renewables projects
  • ELENA Facility:
    • 97 million € for technical assistance to mobilise investments
  • European Energy Efficiency Fund (EEE-F):
    • 265 million € for investments into mature, bankable efficiency/renewables projects
    • 20 million € for technical assistance
what will be available at eu level
What will be available at EU level?
  • Next Multi-Annual Financial Framework (2014-2020) proposals:
    • Cohesion funding to allocate some 17 billion € to energy efficiency and renewable energy (doubling current allocations)
    • Horizon 2020: 6.5 billion € is to be allocated to research and innovation in "Secure, clean and efficient energy"
what works
What works?
  • National funding programmes
    • KfW “energy efficient building and renovation” programmes in Germany
    • Every Euro invested returned 2-5 Euros to state coffers, mainly through job creation!

Source: Impact on public budgets of KfW promotional programmes in the field of "energy-efficient building and rehabilitation", Research Centre Jülich, October 2011

what works1
What works?
  • Energy performance contracting
    • Berlin has made use of energy performance contracting since 1996
    • Over 1300 public buildings have been upgraded
    • Cost savings of about 10,5 million € - i.e. a quarter of the energy cost of the buildings involved
what works2
What works?
  • Energy saving obligations in Member States
    • Cost of delivered savings lower than price of energy
what do we need going forward
What do we need going forward?
  • Engagement, especially of the financial sector, to:
    • Convince policy makers
    • Assist in policy development
    • Support leveraging of public money
what could we do to help
What could we do to help?
  • Commission to launch consultation on financial support for energy efficiency in buildings
    • How could access to financing be improved?
    • What is the role of the EU regulatory framework?
    • How to remove important barriers?