Copenhagen Economics has been commisioned by the Renovate Europe campaign to estimate the multiple benefits related to energy efficient renovation of buildings. We find that there will be large permanent benefits to society and also to public finances by releasing the potential for such renovations. In addition, we find that given the current available capacity in the economy and low financing cost, EU can reap substantial benefits to both society and public finances from increased economic activity.
We find that the renovation potential can be released without spending any public money. Instead policy makers should look into breaking down structural barriers to these investments, such as reforming rent control regulation, budget management of publically owned buildings, favourable tax treatment of heat and electricity consumption, and up front financing cost releated to handling of risk in renovation projects.
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For more information contact, Partner Sigurd Næss-Schmidt