Page 49 - European Energy Innovation - spring 2020 publication

Spring 2020 European Energy Innovation 49

COMMUNICATION

The Energy Savings Insurance Model
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is available in Italy, Portugal and Spain
GoSafe with ESI builds trust
and credibility in energy barriers exist despite the benefits of the most promising instruments to
efficiency investments. It EE investments, such as the recovery mobilise private sector investments
suits technology providers of their – usually higher – upfront in EE and also features in the G20 EE
interested in offering an integrated costs in a short period of time from Investment Toolkit.
solution for energy efficiency projects, energy savings, while also improving
and customers looking to upgrading productivity, efficiency and reducing The ESI Europe project
energy use with guaranteed savings. emissions. The ESI model is being implemented
It is based on the ESI model and in Italy, Portugal and Spain, by BASE
includes a standardised contract The energy savings insurance in Switzerland, the Italian Federation
with energy savings guarantee, an (ESI) model consists of different for Energy Efficiency (FIRE), the
independent technical validation mechanisms that aim to drive Business Council for Sustainable
process, and an insurance covering demand and motivate SMEs to invest Development in Portugal, and Centro
the guaranteed energy savings. in EE by reducing the perceived Tecnológico EnergyLab in Spain with
Access to competitive green credit technical and financial risks and funding from the EU’s Horizon 2020
lines is also supported by the model. creating trust between key actors, research and innovation programme.
GoSafe with ESI is now available in including technology providers,
Italy, Portugal and Spain. enterprises, and financial institutions. The ESI model elements have been
The insurance and validation process developed and are available in the
Background of the ESI model are designed to three countries.
The EU 2030 and 2050 targets require be standardised allowing it to be
enhanced private investment in affordable to SMEs. In 2020, the project team will be
energy efficiency across all sectors. supporting local technology providers
Innovative financing schemes can The ESI model concept was and SMEs to build a pipeline of EE
help to create the conditions needed developed and led by the Inter- projects. An ESI Europe Toolkit and
to ensure an adequate level of American Development Bank (IDB) ESI webinars are being prepared
private finance for EE investments. and the Basel Agency for Sustainable for the second semester of 2020 to
Small and medium-sized enterprises Energy (BASE), with on-going support broader uptake of the model
(SMEs) represent 99 per cent of projects in seven countries. ESI was across Europe. GoSafe with ESI is the
all enterprises in the EU and are a recognised by the Global Innovation commercial brand of the ESI Europe
substantial market opportunity for Lab for Climate Finance as one of project. ●
EE improvements. However, this
opportunity remains largely untapped. Find out more:

The barriers inhibiting SME www.esi-europe.org and www.gosafe-esi.com
investments in EE include lack of https://www.linkedin.com/company/gosafe-esi/
trust between the different actors https://twitter.com/GoSafewithESI
and perceived high risks on energy
savings. Decision-makers are price Contact Information:
sensitive, especially in SMEs, which
are faced with competing investment Livia Miethke Morais
needs and opportunities, combined info@esi-europe.org
with limited financial resources BASE Basel Agency for Sustainable Energy
or limited access to credit. These Elisabethenstrasse 22, 4051 Basel, Switzerland

i) Inter-American Development Bank. Latin American and Caribbean Green Financing (LGF) – Energy Savings Insurance Program. Available at:
https://www.greenfinancelac.org/our-initiatives/esi/

ii) Innovation Lab for Climate Finance. Energy Savings Insurance – The Lab: Driving Sustainable Investment. Available at:
https://www.climatefinancelab.org/project/insurance-for-energy-savings/

iii) G20 Energy Efficiency Finance Task Group. G20 Energy Efficiency Investment Toolkit. (2017). Available at: https://www.unepfi.org/wordpress/wp-
content/uploads/2017/05/G20-EE-Toolkit.pdf

The ESI Europe project has received funding from the The content within this article reflects only the author’s views,
European Union’s Horizon 2020 research and innovation and not the views of the European Commission or the Executive
programme under grant agreement No 785061 Agency for SME’s. The Commission and Agency is not responsible
for any use that may be made of the information it contains.
www.europeanenergyinnovation.eu