Driving energy efficiency investment beyond 2020
- Feb 15, 2019 1:13 pm GMT
With rising GDP, the European Union is once again at risk of missing the 2020 targets for energy efficiency, and yet more ambitious targets for 2030 lie ahead. Regulation, especially for energy efficiency in buildings, is already driving demand, according to the European Investment Bank, with commercial banks acting as aggregators. Peter Sweatman, rapporteur of the Energy Efficiency Financial Institutions Group is optimistic on the future prospects for energy efficiency investment as a cornerstone of sustainable finance. “Energy efficiency will no longer struggle to attract financing. Instead, mainstream financiers will proactively seek it out,” says Sweatman.
To meet the European Union’s 2020 energy efficiency target, final and primary energy consumption must fall by 0.5% and 1.0% per year, respectively, between 2016 and 2020. However, over the two years prior to 2016, final energy consumption grew by more than 4% and primary energy consumption was up by more than 2%. Early indications suggest another increase in 2017.
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