Multiple benefits of renovation in buildings - PU Europe
Multiple benefits of renovation in buildings - PU Europe
Multiple benefits of renovation in buildings - PU Europe
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<strong>Multiple</strong> <strong>benefits</strong> <strong>of</strong> <strong>in</strong>vest<strong>in</strong>g <strong>in</strong> energy<br />
efficient <strong>renovation</strong> <strong>of</strong> build<strong>in</strong>gs<br />
Figure 13 Energy sav<strong>in</strong>g potential with rebound<br />
Mtoe<br />
70<br />
60<br />
50<br />
40<br />
6<br />
19<br />
30<br />
20<br />
10<br />
0<br />
Without rebound Low rebound effect High rebound effect<br />
Rebound effect<br />
Energy sav<strong>in</strong>g potential<br />
Note: The figures depicts the low energy efficiency <strong>in</strong> 2020<br />
Rebound effect is measured for room heat<strong>in</strong>g improvements (<strong>in</strong>clud<strong>in</strong>g <strong>in</strong>sulation)<br />
Source: Copenhagen Economics based on Green<strong>in</strong>g et al (2010)<br />
1.5 Aggregat<strong>in</strong>g the <strong>benefits</strong><br />
In order to consider the pr<strong>of</strong>itability <strong>of</strong> energy efficient <strong>renovation</strong> <strong>in</strong> build<strong>in</strong>gs <strong>in</strong> the EU,<br />
not only the pure energy sav<strong>in</strong>gs should be taken <strong>in</strong>to account. Conversely, co-<strong>benefits</strong><br />
such as health improvements and reduced outlay for subsidies to energy consumption<br />
and renewable energy deployment should also be considered.<br />
We estimate that by achiev<strong>in</strong>g the potential for energy efficient <strong>renovation</strong> <strong>in</strong> build<strong>in</strong>gs <strong>in</strong><br />
2020, EU Member States may achieve annual <strong>benefits</strong> worth <strong>of</strong> €104 billion <strong>in</strong> the low EE<br />
scenario, and €175 billion <strong>in</strong> the high EE scenario, cf. Figure 14. €42 and €88 billion <strong>of</strong><br />
these respectively are <strong>benefits</strong> from improved health, where our estimates are subject to<br />
considerable uncerta<strong>in</strong>ty and should be <strong>in</strong>terpreted accord<strong>in</strong>gly. If <strong>in</strong>vestments are cont<strong>in</strong>ued<br />
<strong>in</strong> order to meet the energy efficiency potential <strong>in</strong> 2030, these annual <strong>benefits</strong> are<br />
likely to be doubled. Please note that <strong>in</strong> the aggregate <strong>benefits</strong>, the rebound effect has<br />
been taken <strong>in</strong>to account. We apply a rebound effect <strong>of</strong> 20 per cent. This implies that the<br />
aggregate figures used <strong>in</strong> this section are 20 per cent lower than <strong>in</strong> the preced<strong>in</strong>g sections,<br />
whenever the rebound effect is relevant.<br />
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