GoSafe with ESI: A boost for investments in EE with Energy Savings Insurance

Spring 2024

GoSafe with ESI is now market-ready in Croatia, Greece, and Slovakia, marking a significant step towards accelerating the transition to energy efficiency in these countries. GoSafe with ESI is an innovative business model based on an Energy Savings Insurance (ESI), that facilitates the acquisition of energyefficient equipment by small and medium-sized enterprises (SMEs).

What is GoSafe with ESI?
GoSafe with ESI enables businesses willing to install energy-efficient technologies to de-risk this investment by having the energy savings of high-performing systems guaranteed, hence securing their expected financial returns. It combines a set of financial (a surety insurance product and access to finance) and non-financial (a standardised contract, an external technical validation and an online platform) tools to deliver this.

By incorporating the GoSafe with ESI solution into their offerings, technology providers can largely differentiate their services, tackle the perceived mistrust in energy-efficient technologies, winning the most sceptical clients.

Who can benefit from GoSafe with ESI?
The solution benefits companies that wish to enhance productivity while lowering energy costs. It can be applied to various technologies from lighting to refrigeration systems, as well as HVAC equipment and solar PV.

By incorporating energy-efficient technologies, SMEs can also contribute to the decarbonisation of their activities, achieving climate objectives and meeting existing or upcoming regulations on the topic.

Why is GoSafe with ESI targeting SMEs?
Decarbonising SMEs represents a critical opportunity to mitigate climate change as they account for 13 percent of total energy consumption on average in the European Union. Greek, Croatian and Slovakian SMEs have some of the highest energy intensity ratios of the continent, which stands above 1200 MWh/mn€ (for comparison, in Portugal this ratio stands below 400 MWh/mn€).

But improving efficiency and clean energy access for this category of businesses is also crucial to build the resilience of the local economies and households as SMEs generate more than half of EU countries' valueadded and employ on average 65 percent (up to 70 percent in Greece) of their workforce.

GoSafe with ESI is tailored for SMEs through its standardised tools.

Finally, energy efficiency can deliver tremendous savings for businesses, constituting a major solution to better respond to energy price raises.

How to take part?
The GoSafe with ESI solution is implemented by the ESI Europe 2.0 project, facilitated by the BASE Foundation, the Croatian Society for Sustainable Development Design (DOOR), the Greek Centre for Renewable Energy Sources and Saving (CRES), and the Slovak Innovation and Energy Agency (SIEA) with fundings from the Horizon 2020 Research and Innovation Programme. The tools have been developed and adapted to the local context, insurance companies and financial institutions in each of the countries have been engaged - now it is time for action!

First movers benefit from a special package of advantages: the personalised support of the ESI Europe 2.0 team for applying technical methodologies, contract negotiation, accessing insurance and financing, coverage of validation costs and a unique opportunity for visibility via articles and videos to be disseminated in Europe and around the world.

Technology providers and companies wanting to upgrade to energy efficient systems are welcome to reach out to our team and visit our website www.gosafe-esi.com for more information. We look forward to receiving your contact!

Still curious about the ESI model?
The ESI model was created in 2015 by BASE Foundation and the Inter- American Development Bank (IDB).
After a successful implementation in multiple countries of Latin America, it has been spreading around the world: from Europe to Asia and Africa.

To consolidate all the knowledge about the model and the learnings from these multiple experiences, BASE Foundation published a comprehensive white paper.

From exclusive insights stemming from various rollouts of the model to case studies spotlighting unique pilot projects, the document aims to contribute to the knowledge surrounding energy efficiency risk mitigation and financing, and inspire further innovation and replication of successful practices.

The Energy Savings Insurance White Paper will inform and empower stakeholders, policymakers, financial institutions, and other entities interested in implementing similar models globally. Access the Energy Savings Insurance white paper here.

Find out more at www.gosafe-esi.com

Contact information:
Viola Buli
Pablo Osés
Livia Miethke Morais
Hugo Manticello

The ESI Europe 2.0 project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 101033691