PROJECT IDENTIFICATION

ACRONIME

EuroPACE

NAME

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

PROJECT WEB LINK

http://www.europace2020.eu/

PROJECT LOGO

europace

DURATION

2018 - 2021 (36 months)

EUROPEAN PROGRAMME

NAME AND PROGRAMME LOGO

horizon2020

PROGRAMME WEB LINK

http://ec.europa.eu/programmes/horizon2020/en/what-horizon-2020

PROJECT PARTNERSHIP

PARTNER

1 CASE (Coordinator) - Poland
2 GLOBAL NEW ENERGY FINANCE SL, (Main promoter), Spain
3 JOULE ASSETS EUROPE AB OY Finland
4 CLIMATE BONDS INITIATIVE United Kingdom
5 Ajuntament d'Olot Spain
6 AGENCIA EXTREMENA DE LA ENERGIA Spain
7 ENTE VASCO DE LA ENERGIA Spain
8 Social Innovation for Communities UpSocial, S.L. Spain

PROJECT CONTENT AND BASIC INFO

ABSTRACT

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.

GENERAL

DESCRIPTION

The project will address several fundamental challenges to EE 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)TA: 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.

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