CITYnvest is a Horizon2020 project, which focuses on supporting and replicating successful innovative financing models for energy efficiency renovations in buildings. Project’s activities focus on 5 main areas; analysis and comparison of innovative financing models and development of guidance materials, application of those models through three pilot projects, monitoring of triggered investments and discovering key success factors, a wide-scale training programme in 10 countries, and promotion of innovative financing for energy efficiency in buildings.
Project’s website (www.citynvest.eu) guides municipalities and regions through the whole process of developing innovative financing models, from choosing the best financing instrument and gathering all necessary partners through developing action plans, to building dedicated teams and starting the tendering of actual projects.
So far, CITYnvest developed several materials to assist local and regional governments in developing innovative financing models:
- An Analysis of 26 case studies in financing for energy efficiency.
- A Recommendations Matrix, which helps to choose the most suitable financing and operational model.
- A Guide for the launch of a One Stop Shop on Energy Retrofitting gives an example and practical, step-by-step indications on how to start a project from scratch.
- An Action Plan Template guides through all questions asked by municipalities and regions while starting to develop a financing model for energy efficiency.
- A Barriers tool helps to pro-actively mitigate risks or difficulties often encountered while developing or implementing projects.
More information on the project can be found here.
What are innovative financing models?
They can be based on schemes such as Energy Performance Contracting, including third party financing, revolving funds, citizen funding, green bonds etc. Besides the funding schemes, models can differ in the type of buildings targeted, the kind of services they provide to the building owners, the levels of reduction of energy consumption etc.
The most innovative aspect of these models is the catalyst role of local and regional authorities. Municipalities and regions are the ones defining the broader vision and policy goals, leading the renovations process themselves and mobilizing partners to follow their example.