Page 44 - European Energy Innovation - spring 2020 publication
P. 44
44 Spring 2020 European Energy Innovation
COMMUNICATION
Scaling up Energy Efficiency
investments through Citizen
Financing Schemes
I n the renewable energy sector, adopted citizen financing schemes, serviced by traditional financial
initiatives such as CrowdFundRES crowdfunding and cooperative intermediaries
(H2020 project) or REScoop.eu funding, with adequate available or • Facilitating the inclusion of
(European federation of renewable to be developed Public Financing investors towards the financing
energy cooperatives) have proven the Instruments (PFIs). As a result, CitizEE of projects
potential of citizen financing for RES will facilitate the set-up of large- • Focus on blending/crowding-in
projects. However, the enforcement scale community energy efficiency public and private funds
of citizen financing schemes for programs while strengthening the • Contributing to aggregation and
energy efficiency projects is still far know-how of regional/national key pooling of projects
from having reached its full potential. stakeholders. • Focus on geographic and/or
sectoral/thematic scope (e.g.
Energy efficiency is a decisive factor CitizEEs´ project strategy is therefore building renovation)
of the European Union’s energy conceived to support public • Flexible structuring options (co-
policy as it is considered essential authorities with a twofold purpose: financing, risk-sharing, managed
for competitiveness, energy security accounts, special purpose
and to meet international goals on • Se ing up Citizen Investment vehicle)
climate change. Platforms (IP). IPs backed by • Easing the integration of the
the European Fund for Strategic citizen financing scheme
In the building sector, to meet these Investments (EFSI)1 are considered
objectives, it is key that energy as Investment facilities channelling • Developing, testing and evaluating
efficiency financing models are public and private financing from tailored and widely adopted
consolidated through innovative several co-investors to provide citizen financing schemes for
financing solutions that leverage financial products to designated energy efficiency. So-called by
the cooperation between all actors final beneficiaries and/or projects. the project as CFs4EE2 Financing
(project promoters, public/private Focused on: Schemes, these are composed
financial institutions, end users),
especially with citizens. Not only • Identifying market gaps and
that, but it is essential to establish providing financing or support
mechanisms that enable making to sectors and/or projects that
more effective use of public funding, are not currently sufficiently
mobilising private financing towards
large-scale energy efficiency Figure 1 - Example of an EFSI-backed Investment Platform
programs and helping to overcome
specific barriers faced by energy
citizens and communities’ projects
wishing to invest in sustainable
projects.
In this context, CitizEE is a European
funded project aimed at supporting
European public authorities to scale
up investments for energy efficiency
in the building sector by attracting
citizen private investments.
CitizEE will address this goal by
means of creating national or regional
Investment Platforms that drive the
integration of tailored and widely
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