houseenvest project energy eficiency investments in ... · building e: 22 owners investments:...
TRANSCRIPT
HOUSEENVEST PROJECT
Energy Eficiency Investments in Multifamily Houses
Daniel Encinas Martín.
Industrial Engineer
Technical Department Coordinator
AGENEX - Extremadura Energy Agency
CONTENTS
HousEEnvest Project. Main Data
The Region of Extremadura
Why HousEEnvest?
Ex-Ante Assesment
Typology of investments
Organizational Innovation
Structure of the Project
Impact of the Project
HouseEEnvest Project: Main data
Name of the project- HousEEnvest
Title of the project- Energy Efficiency Investments in multifamily houses
Start- 01/03/2018
Duration - 36 months
Budget - 1.798.733,75 €
PARTNERS
HouseEEnvest Project: Main data
Objetives
Implement a regional financial instrument to solve the current barriers to
finance energy refurbishment of existing buildings.
Achieve the private-public colaboration to créate a guarantee fund to give
“security” to the financial institutions and the final client about the technical and
economic viability of the project.
To catch high energy performance potentials non explored in energy
refurbishment of buildings in Extremadura by gathering low risk investments
with other with higher risk and uncertainty.
The Region of Extremadura
Why HOUSEENVEST?
Energy is one regional priority.
Energy Efficiency in buildings as driver
of growth and jobs.
Market lacking financial support
Why HOUSEENVEST?
WHICH IS THE BEST MODEL TO PROMOTE EE INVESTMENT?
Why HOUSEENVEST?
FINANCIAL INSTRUMENTS
• Long term sustainability of Structural Funds - revolving effect.
• Higher efficiency in the use of (scarce) public funding - higher
leverage effects.
• More business-oriented attitude and financial discipline into the
public identification/selection of projects
• Blending or combination of funds, public or PPP, including
technical assistance to overcome market barriers.
• Capacity to implement innovation (risk sharing, bundling, de-
risking, etc)
• Move away from grant dependency culture
Main source of
information
FI-COMPASS INITIATIVE
EXANTE ASSEMENT RESULTS
Market failures
Lack of specific financial products for comprehensive rehabilitation
Low demand for rehabilitation works due to lack of permanent incentives from
public administrations, as well as the lack of knowledge of citizens about the
economic savings they bring
Great costs of management of rehabilitation projects
Ex-Ante Assesment
Ex-Ante Assesment
Extremadura Region Potential
> 9.000 Buildings built before 1980, before NBE-79, no insulation
> 1.400 fuel central heating
> 150 Target buildings
> 100.000 Single family houses
> 2.800 M€ of investments
Average investments > 24.000€
PRIORITARY MARKET
Potential clients
> 100 Owners of buildings associations
> 40 M€ of investments
Average investments > 450.000€
SECUNDARY MARKET
Ex-Ante Assesment
Typology of investments
Comprehensive energy refurbishments, including:
CHANGE OF
CENTRAL BOILERS
(HEATING/SHW)
IMPROVEMENT OF
THE WINDOWSREFURBISHMENT
OF THE ENVELOPE
IMPROVEMENT OF
ELEVATORS AND
ACCESIBILITY
Economic savings > 50% of the energy bill
(> 600 €/year per dweling)
Other possibilities:
Solar PV installations Solar thermal installationsfor sanitary hot water
Building E: 22 owners
Investments: CHANGE OF BOILERS+ENVELOPE+WINDOWS+ELEVATOR
Investment: 429.070 €
Total monthly energy savings: 1.210,21 €
Monthly savings/owner: 55 €
Credit duration: 20 years
Monthly fee*: 1.787,79 € Monthly fee/owner*: 81,26 €
Possible grants**: 128.721 €
Monthly fee with grants*: 1.251,45 € Monthly fee with grants/owner*: 56,88 €
** Subvención de un 30%. Ayuda Pareer II (IDAE)
NOTA: Escenario de cálculo: precio estimado tendencial para el gasóleo basado en los precios de
los últimos 5 años y ahorros teóricos encontrados en bibliografía del IDAE para cada tipo de
actuación
* Amortización lineal sin intereses
Typology of investments
Organizational Innovation
Mobilization of investment
Financial engineering
- Users’ attraction system- Framework contract- Tools for standardization- Bundling and pooling
- Made to measure scheme- Guarantees system- Subsidies financing- De-risking system- Risk-sharing
Organizational Innovation
Mobilization of investment
- Users’ attraction system
Professional Association of Building Administrators of Extremadura Region
Commercial network, training and advice
- Framework contract
Procurement framework
Panel of contractors
- Tools for standardization
Project pipeline platform: HousEE Platform
- Bundling and pooling
Bundling of investments per building (5 investments lines)
Pooling of risk
Organizational Innovation
Financial engineering
- Made to measure scheme
Financial products adapted to the life duration of the investment.
Includes de-risking system
Includes risk-sharing method for safeguarding the public ESIF contribution to the fund.
Commercial banks will be awarded by the Fund for commercializing
- Guarantees system
System of guaranteed energy savings, both to owners of the buildings and financial institutions
Full technical guarantee of energy savings during the project lifetime
Organizational Innovation
Financial engineering
- Subsidies financing
Full service of requesting and pre-financing of available subsidy or grant
- De-risking system
Combined PPP
• ESIF or regional funds
• Private financial institutions
- Risk-sharing
Between PDA and the awarded company
For safeguarding the public ESIF contribution to the fund
Structure of the project
Structure of the project
Assistance in the project development
1. Technical and financial feasibility studies.
2. Presentation of the results to the
association of owners.
3. Agreement and pre-contract.
4. Tender process
5. Contract and implementation of the
investments
6. Control of works
7. Monitoring in the long term.
TA.0. Users attracting system2
TA.1–TA.3. Feasibility studies3
TA.4. Procurement system4Funding system1
TA.5. Investing system5
PDA Unit
Structure of the project
EMPLOYMENT GENERATED
756 jobs
TOTAL INVESTMENT EXPECTED
>40 M€
NUMBER OF ENERGY USERS BENEFICIARIES
6000 usuarios
PAYBACK FOR THE PUBLIC ADMINISTRATION
56% of the global investment goes back to the public Budget: 22,85 M€
Source: ACA, Asociación de Ciencias ambientales; CNC, Confederación Nacional de Construcción; INE, Instituto Nacional de Estadística
Impact of the project
Thank you very much for your attention!
Daniel Encinas Martín
Extremadura Energy Agency (AGENEX)