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EuroPACE SIGNED

Developing, piloting and standardising on-tax financing for residential energy efficiency retrofits in European cities

Total Cost €

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EC-Contrib. €

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Partnership

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 EuroPACE project word cloud

Explore the words cloud of the EuroPACE project. It provides you a very rough idea of what is the project "EuroPACE" about.

underwriting    tons    retrofitted    review    levy    subsidies    letters    broad    suitability    local    guidelines    private    tied    conduct       execute    45    deployment    turn    repayments    olot    pace    city    repayment    environment    renovation    property    2015    scheme    risking    equating    efforts    owner    8m    pilot    generalised    savings    eu27    generation    mechanism    economy    first    2025    reduce    300    financing    decision    tax    households    5mwh    contractors    front    special    energy    2008    75    co2    homes    invented    de    obligation    municipalities    efficiency    green    generate    giving    jobs    bonds    ee    assistance    grants    inspired    society    code    training    totalling    unlock    europace    reliance    scalable    investment    capital    issuance    spain    performance    pillars    collected    successful    market    standard    toolkit    industry    technologies    platform    protection    california    confirm    homeowners    resourced    standardization    measurable    saving    service    signed    economies    bill    fundamental    aggregation    skilled    deploy    5bn    conduit    huge   

Project "EuroPACE" data sheet

The following table provides information about the project.

Coordinator
CASE - CENTRUM ANALIZ SPOLECZNO- EKONOMICZNYCH- FUNDACJA NAUKOWA 

Organization address
address: ALEJA JANA PAWLA II 61B
city: WARSZAWA
postcode: 01 031
website: www.case-research.eu

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Poland [PL]
 Project website https://www.europace2020.eu/
 Total cost 2˙375˙490 €
 EC max contribution 2˙375˙490 € (100%)
 Programme 1. H2020-EU.3.3.7. (Market uptake of energy innovation - building on Intelligent Energy Europe)
2. H2020-EU.3.3.1. (Reducing energy consumption and carbon foorpint by smart and sustainable use)
 Code Call H2020-EE-2017-CSA-PPI
 Funding Scheme CSA
 Starting year 2018
 Duration (year-month-day) from 2018-03-01   to  2021-02-28

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    CASE - CENTRUM ANALIZ SPOLECZNO- EKONOMICZNYCH- FUNDACJA NAUKOWA PL (WARSZAWA) coordinator 384˙750.00
2    GLOBAL NEW ENERGY FINANCE SL ES (BARCELONA) participant 796˙583.00
3    AJUNTAMENT D'OLOT ES (OLOT) participant 449˙940.00
4    CLIMATE BONDS INITIATIVE UK (LONDON) participant 175˙775.00
5    JOULE ASSETS EUROPE AB OY FI (NAMPNAS) participant 165˙937.00
6    ENTE VASCO DE LA ENERGIA ES (BILBAO) participant 163˙505.00
7    AGENCIA EXTREMENA DE LA ENERGIA ES (BADAJOZ) participant 140˙250.00
8    SOCIAL INNOVATION FOR COMMUNITIES, UPSOCIAL SL ES (BARCELONA) participant 98˙750.00

Map

 Project objective

EuroPACE will develop a scalable on-tax financing mechanism to unlock the huge potential for deployment of energy saving and generation technologies to European households. The scheme is inspired by the successful US PACE scheme, that was invented in California in 2008.

The project will address several fundamental challenges to Energy Efficiency investment by (1) A Market-Based Approach: EuroPACE will deploy private capital as up-front financing to homeowners, i.e. reduce reliance on grants and subsidies, (2) De-Risking EE Investment: the long-term repayments obligation is tied to a property and not its owner. In turn, municipalities will be the conduit for the repayment via a special levy collected with the property tax bill, (3) Technical Assistance: decision-making processes for homeowners will be optimised by training energy service contractors. They will be held to account by a comprehensive consumer protection code, (4) Aggregation and Standardization: EuroPACE will design standard underwriting requirements and project performance guidelines to enable project aggregation and Green Bonds issuance.

By 2025, the EuroPACE industry will generate measurable impact in the three key areas: (1) Economy: over 45.000 jobs and €5bn of capital in local economies across the EU27, (2) Society: over 300.000 homes retrofitted and improved, and (3) Environment: energy saving of 3.5MWh/year, equating to CO2 savings totalling 1.8m tons. EuroPACE will account for just 4.6% of the European renovation industry by 2015 giving way to huge growth potential.

This will be achieved by a well-resourced and highly skilled consortium that will focus its efforts on three pillars of activity: (1) Conduct a market review to assess on-tax financing suitability in EU27, (2) Develop and execute a first EuroPACE pilot in the city of Olot (Spain) and (3) Develop generalised Guidelines and a Toolkit that will make EuroPACE fully scalable. Over 75 signed Letters of Support confirm a broad support platform for the project.

 Deliverables

List of deliverables.
Guidance & best practices materials for Public Authorities Documents, reports 2020-02-20 18:02:09
Front Office Communication Materials Documents, reports 2020-02-20 18:02:06
EuroPACE project website Websites, patent fillings, videos etc. 2020-02-13 09:10:25
Report on on-tax financing feasibility (map) Documents, reports 2020-02-13 09:10:25
CPP guidelines – EuroPACE consumer protection policies Documents, reports 2020-02-12 16:28:51
Report on Energy Policies, Incentives, Programs and other mechanisms for houses and residential buildings retrofit Documents, reports 2020-02-12 12:17:48

Take a look to the deliverables list in detail:  detailed list of EuroPACE deliverables.

 Publications

year authors and title journal last update
List of publications.
2018 SmartEN and GNE Finance
Scalable Innovative Financing for Smart Buildings
published pages: , ISSN: , DOI:
2020-02-13
2018 GNE Finance
MOTIVATING PEOPLE TO RENOVATE THEIR HOMES with Prashant Vaze from the Climate Bonds Initiative
published pages: , ISSN: , DOI:
2020-02-13
2019 GNE Finance
HEALTHIER HOMES, HEALTHIER PLANET with Catriona Brady, World Green Building Council
published pages: , ISSN: , DOI:
2020-02-13
2019 GNE Finance
BUILDING RENOVATION: FROM POLICY TO IMPLEMENTATION with Patty Fong, European Climate Foundation
published pages: , ISSN: , DOI:
2020-02-13
2018 GNE Finance
Discovering the role of public and private financing to unlock home renovation market” with Juan Alario, former European Investment Bank Director
published pages: , ISSN: , DOI:
2020-02-13
2019 GNE Finance
INNOVATIVE FINANCE FOR SOCIAL AND ECONOMIC CHANGE with Caroline Milne from Joule Assets Inc.
published pages: , ISSN: , DOI:
2020-02-13
2018 CASE, GNE provided the summary and document design
EuroPACE Readiness Assessment: Legal and Fiscal Analysis of the EU-28
published pages: , ISSN: , DOI:
2020-02-13

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The information about "EUROPACE" are provided by the European Opendata Portal: CORDIS opendata.

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