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European Commission says more funding needed for energy efficiency

Mon, 04/22/2013 - 18:36 -- Ruth Williams

The European Commission has published a report concerning energy efficiency in buildings stating that big savings must be made to meet energy efficiency targets for 2020. It stressed financial support must be strengthened by the EU to ensure the energy sector will meet targets.

The report states that 40% of energy consumption is in buildings such as houses, offices and shops, and this sector has a largely untapped potential for making energy savings. It notes that although under the umbrella of the EU, all member states have different energy issues as well as different levels of financial support for utilities in individual states.

The most important factor, according to the report, for improving financial support for energy efficiency in buildings is to ensure a regulatory framework is properly implemented and more financing is made available.

Much of the responsibility in terms of implementing building legislation will be down to member states. Each country will need to tailor its approach to energy efficiency to suit its own circumstances, therefore a close cooperation between public authorities, finance providers and the building sector will be essential for success.

A lack of expertise and awareness of financing is cited as a barrier to better uptake of more energy efficient practices in buildings.

This is an on-going process, the report concluded by saying, “Going forward the Commission will continue to engage with Member States and relevant stakeholders on how barriers to energy efficiency investments in buildings can be overcome and how financial support for energy efficiency in buildings could be further improved.”