On April 22nd, 2024, ENERGATE Project partners from REHVA represented ENERGATE in the European Commission's Launch event: Energy Efficiency Financing Coalition- cooperating to upscale energy efficiency investments. This landmark event gathered key stakeholders to enhance cooperation and upscale energy efficiency investments within the EU.
Kadri Simson, Commissioner for Energy, opened the session, highlighting the critical timeline set by the EU to achieve neutrality goals and the essential role of investments in energy efficiency. The newly formed coalition focused on three strategic layers:
- Establishing goal programs and defining clear objectives.
- Serving as a platform for knowledge exchange.
- Supporting local market initiatives at the national level.
What are the remaining challenges, and what are the practical examples of unlocking financing?
- Supporting public policies that incentivise energy efficiency investments.
- Engaging clients effectively to foster participation in energy efficiency initiatives.
- Leveraging the coalition's resources to scale up actions for energy efficiency financing.
How can the coalition address these challenges?
By adopting a three-layer approach, the coalition can effectively tackle the obstacles. The primary goal is to boost demand, prompting financial institutions to follow suit. This can be achieved by raising awareness, strengthening business cases, and emphasising potential savings as a trigger for action. Simplifying the application process for grants, ensuring access to relevant data, and proposing actionable solutions are also crucial. Focusing efforts at the national level and collaborating with national hubs will be essential for success.
Usability will significantly impact investments in energy efficiency, so it's essential to avoid duplicating existing efforts. Designing and implementing energy instruments plays a crucial role in optimising their efficient use.
Is in this context that projects like ENERGATE are crucial to unlock financing. ENERGATE's marketplace, implemented through an ICT-based platform, serves a dual purpose:
It mobilises and accelerates the creation of NECP-compatible credible project pipelines, crucial for advancing energy efficiency initiatives.
It facilitates financial closure and project implementation by offering standardisation, risk mitigation, and appropriate packaging of investments. By operating at a national level, ENERGATE demonstrates practical solutions tailored to local contexts, thereby enhancing the effectiveness and scalability of energy efficiency efforts.
Ultimately, ENERGATE plays a vital role in accelerating progress towards shared energy efficiency goals and fostering collaboration among stakeholders in the sector.