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Hellenic Republic Ministry of Environment, Energy and Climate Change Department for planning and coordination of NSRF co

Hellenic Republic Ministry of Environment, Energy and Climate Change Department for planning and coordination of NSRF co-financed actions (Energy sector). Planning and implementation of Energy efficiency in private housing in Greece in the framework of regulations 397/2009 and 539/2010

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Hellenic Republic Ministry of Environment, Energy and Climate Change Department for planning and coordination of NSRF co

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  1. Hellenic Republic Ministry of Environment, Energy and Climate Change Department for planning and coordination of NSRF co-financed actions (Energy sector) Planning and implementation of Energy efficiency in private housing in Greece in the framework of regulations 397/2009 and 539/2010 Nikos Kleniatis Head of Department 1 Brussels, 29-30 November 2011

  2. Building Sector in Greece • Construction sector plays major role in Greek economy, corresponding to almost 20% of Greek GDP • Buildings correspond to about 36% of total final energy consumption • Buildings = residential buildings (32%). Households Agriculture 32% 7% Transport 38% Tertiary sector Industry 11% 12%

  3. Energy Consumption of the Building Sector in Greece Main problem Number of buildings per time period in Attica Region Non insulated buildings ggggggg Fact • 60% of all buildings are constructed before 1980, date of entry into force of Insulation Regulation • 3.000.000 high energy consuming buildings

  4. Operational Programs (OPs)/ Regional Operational Programs (ROPs) Public Investment Programme OP1 OP2 OP3 ROP1 ROP2 FUND “Exoikonomo kat’ Oikon” D D D D D Donation from OPs or ROPs Selection Process CALL FOR PROPOSALS FINANCIAL INSTITUTIONS Own capital Co investment Holding Fund + Financial Institutions ratio 1:2 Establishment of New Financial Engineering Instrument LOANS LOANS LOANS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS HOUSE HOLDS HOUSE HOLDS HOUSE HOLDS HOUSE HOLDS

  5. Establishment of New Financial Engineering InstrumentProcess &Milestones Fund Establishment (legal framework, JMD issue) 20.07.2010/06.08.2010 Funding Agreement ETEAN and Greek Authorities 04.08.2010 Call for Proposals (selection of co investors) 07.09.2010 - 04.10.2010 Selection of banks 24.11.2010 Co financing agreements with 4 Banks 22.12.2010 New Financial Engineering Instrument 05.01. 2011

  6. TOTAL PROGRAMME BUDGET – LIQUIDITY TO MARKET 155 mio € 241 mio € FUND GRANTS FINANCIAL INSTITUTIONS Co investing Ratio 1:2 482 mio € EXPECTED CASH FLOW TO MARKET 1 BN €

  7. Program Players MANAGING AUTHORITY OP COMPETITIVENESS MINISTRY OF ECONOMY Department for Planning & and coordination of co financed actions ENERGY INSPECTORS HOUSEHOLDS= final recipients FUND “Exoikonomo kat’ Oikon” INVESTMENT COMMITTEE FINANCIAL INSTITUTIONS REVOLVING FUND ETEAN AE = BENEFICIARY/FUND MANAGER GRANTS

  8. Program Procedure Implementation of interventions HOUSEHOLDS 1 1st Energy inspection 4 30 % loan disbursement Application to the bank 2nd Energy Inspection & Project verification 2 5 Verification of Eligibility Total loan disbursement & benefits 6 Financing Decision 3

  9. PLANNING PROBLEMS ENCOUNTERED Long consultation with many stake holders • EC • Managing Authority OP Competitiveness • Financial institutions • Market • ETEAN • Competent authorities for buildings regulation Complexity of the building sector • Absence of legislation framework before 1955 • Different authorities issued building permits before 1980 Newly legislative framework through the Buildings’ Energy Efficiency Regulation New Inspectors Registry

  10. PLANNING PROBLEMS ENCOUNTERED Set up of a complex administrative scheme in order to safeguard the EC money vs. simplicity for citizens COCOF’s guidelines under amendment throughout the planning period Reluctance as to the attractiveness of the financial engineering scheme best use of financial engineering scheme combined with grants Need for shaping energy “culture” to citizens Long period for program maturity due to difficulty by all players to adapt to its philosophy and parameters

  11. Program Results (to date) Number of Applications: 43.365 Number of loan pre approval (credit control): 20.681 Number of pre-approved Applications (eligibility verification): 11.869 approved applications: 7.322 4.728 loan agreements 2000 30 % loan disbursements

  12. Regional Distribution of approvals

  13. Breakdown Information on Interventions (approvals) • % of category interventions • Replacement of doors/windows (frames/glazing) 90% • Installation of heat insulation48% • Upgrading of the heating and hot water supply systems 64% • % of eligible budget per eligible category of interventions Upgrading heating and hot water supply systems Replacement of doors/windows (frames/glazing) Installation of heat insulation

  14. Energy Savings Estimates • Based on information contained in the energy certificates, implementation of the 7.300 approved applications will lead to annual primary energy savings of 170kWh/m2which corresponds to a 40% reduction of energy consumption • Total annual energy saving for 2012 is estimated at 200 miokWh based on the 12.000 mature applications (pre-approved)

  15. EVENTUAL RESPONSE CHALLENGES • Economic crisis • Banks’ reluctance (reduced cash liquidity) • Low creditworthiness of citizens • Limited publicity of the improved conditions of the program • Reduced interest from Energy Inspectors due to low fee • Acceptance of the Energy Inspection process • Amend the co financing ratio (ex, from 2:1 to 1:1 (NSRF-banks) • Amend eligibility conditions so as to expand the pool of potential applicants • Provide for further publicity of the Program • Provide for a “project manager” for households & introduce eligible management cost (ex. 300 €) • more than 300 mio € disbursed in 2012 • 50 mio € could be made available for specific actions, ex. subsidy of biomass boilers

  16. Thank you for your attention Tel: 0030-210-6969909 E-mail: kleniatis@eka.ypeka.gr 16

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