As we are drifting towards winter, I am struck by the gap between the urgency to protect European citizens from the consequences of poorly performing homes, and the reluctance of our leaders to decisively act on it. We are witnessing intense debates on the energy efficiency files under the Fit for 55 Package, and this is not nearly the end of it.
Asking citizens to adapt their behavior to mitigate the risk of gas shortages and subsidizing their bills seem to be the only political answer. Yet, we all know that solutions addressing only the symptoms will not help in the long run.
The solution to the cause is the EU Renovation Wave, however we cannot overlook the challenges to this. We need an additional 275 billion euros to finance it (1), and the acceleration of the rate and depth of renovation calls for coordination and new business models.
We have been sleepwalking on the issue for too long, hypnotized by cheap fossil energy hiding the leaks and waste of our buildings. It is not too late to change that.
It is our responsibility to help politicians join the dots between short- and long-term concerns. The equivalent of 1,7% of EU GDP was spent to mitigate the impact of the energy crisis so far (2). By contrast, financing the Renovation Wave would represent 1,5% of the GDP. Add to that jobs, health and productivity benefits, and a boost to our climate agenda.
It is also our responsibility to explain what renovation market actors need to be able to invest, train, and innovate. Building owners, manufacturers, banks, real estate and building professionals need visibility. This visibility is at the heart of the MEPS (Minimum Energy Performance Standards) proposal, a true renovation accelerator.
The best energy will always be the energy we do not need, thanks to the efficiency of our buildings.
We can help make this a reality.
by Céline Carré
Head of Public Affairs
1. Question 5 in FAQ on the Renovation Wave: https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_1836
2. Bruegel, 21/09/2022 and Europe’s Deepening Energy Crisis Pushes Bill to $500 Billion