As we know, a full 40% of all energy in the EU is consumed by its buildings. To combat this waste and growing cost, the Renovate Europe Campaign was initiated in 2011 by EuroACE. It is a political communications campaign that is increasing knowledge and awareness of the multiple benefits of investing in energy efficient renovation of the EU building stock. The Campaign drives the adoption of stable, long-term policies and legislation for a transformation in the construction sector such that the energy demand of the EU building stock will be reduced by 80% by 2050 as compared to 2005 levels.
To achieve this objective, we will need to increase the renovation rate in the EU from the current annual average of 1.2% of the building stock to 3% of the building stock per year. The rewards will, according to a new study by Copenhagen Economics, be significant for both society at large and for public finances in particular. In fact, investing in ambitious energy efficient renovation of the EU building stock could bring up to €175 billion in benefits to society in 2020, with a possible doubling of this amount by 2030 if investment continues. In the interim, such investments will speed up economic recovery in the EU and can deliver up to €291 billion in additional GDP by 2017. www.renovate-europe.eu
By Adrian Joyce, Secretary General of EuroACE, Campaign Director of Renovate Europe