The Energy Efficiency Directive (EDD), which entered into force in December 2012, aims to help Member States achieve the EU climate and energy targets through, among other things, renovation of the existing building stock. It has been estimated that when applied the Directive will stimulate investments and create jobs. If 2050 targets are to be met, the energy demand of the existing EU building stock must be reduced by 80% as compared to 2005 levels. This means that Member States need to scale up their renovation rate from the current average of 1% to more than 3% per year and they will need to ensure that all renovations are deep or staged deep renovations. They will only be able to achieve this goal if the necessary financing mechanisms and market drivers are in place. It is for this reason that REDay2013:
* Provided a platform of exchange on the need for deep renovations and ambitious implementation of Article 4 of the EED * Highlighted the multiple benefits of deep renovations, including improved health, and related health-cost savings; job creation; finance/investment opportunities; climate and energy benefits * Demonstrated through concrete examples of roadmaps and finance models that deep renovation is the necessary next step for the building sector's contribution towards climate and energy targets
Renovate Europe Day 2012 - Stimulating jobs and growth in Europe 11 October 2012 - Brussels Renovating the existing EU building stock is a real economic opportunity for Europe. It is a revenue-generating activity which contributes to urban renewal, strengthens social cohesion, boosts economic growth by creating local non exportable jobs (up to 19 jobs created for every €1 million invested), and leads to high public revenues (up to €5 additional budget revenue for every €1 of public funds invested).
Renovate Europe Day 2012 explored these wide-ranging benefits that investing in the energy efficient renovation of the building stock can offer, drawing from practical experiences at the local, regional and national level, and emphasing the links with the EU Cohesion Policy and Growth Agenda. Learn more on www.renovate-europe.eu