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 />
<strong>in</strong>cludes the health <strong>benefits</strong> from improved <strong>renovation</strong> on e.g. respiratory diseases, asthma<br />
etc, where the estimates are quite uncerta<strong>in</strong>. If <strong>in</strong>vestments cont<strong>in</strong>ue towards 2030,<br />
these annual <strong>benefits</strong> will be approximately doubled <strong>in</strong> 2030.<br />
Table A.31 Annual improvement <strong>of</strong> public f<strong>in</strong>ances, 2020<br />
Improvement <strong>of</strong> public f<strong>in</strong>ances (<strong>in</strong>cl. rebound)<br />
Direct annual <strong>benefits</strong><br />
Value - low EE scenario<br />
(bn EUR)<br />
Energy sav<strong>in</strong>gs 9.1 12.4<br />
Lost tax revenue from energy taxation<br />
-4 -6<br />
Reduced outlay on subsidies 2.2 – 8.7 2.5 – 9.0<br />
Indirect annual <strong>benefits</strong><br />
Reduced air pollution 0 0<br />
Health <strong>benefits</strong> (uncerta<strong>in</strong>) 10.0 – 28.2 19.0 – 35.4<br />
Total 17.1 – 42.0 28.1 – 51.0<br />
Total (pct. <strong>of</strong> GDP) 0.1 – 0.3 0.2 – 0.4<br />
Value - high EE scenario<br />
(bn EUR)<br />
Note:<br />
Rebound effect has been <strong>in</strong>cluded<br />
Annual improvements <strong>of</strong> public f<strong>in</strong>ances are a subset <strong>of</strong> overall <strong>benefits</strong> to society.<br />
Source: Copenhagen Economics<br />
In addition to these annual <strong>benefits</strong>, there will be a one-<strong>of</strong>f <strong>benefits</strong> to GDP and public<br />
budgets from <strong>in</strong>creas<strong>in</strong>g economic activity. This corresponds to €153 billion impact on<br />
GDP and €67 billion <strong>in</strong>creased revenue to public budgets <strong>in</strong> the low EE scenario, cf. Figure<br />
A.10. If the high EE scenario is followed, the <strong>benefits</strong> will be €291 billion impact on<br />
GDP and an <strong>in</strong>crease <strong>in</strong> public revenue <strong>of</strong> €128 billion.<br />
Figure A.10 Benefit from <strong>in</strong>creased economic activity<br />
€ billion<br />
350<br />
300<br />
291<br />
250<br />
200<br />
150<br />
153<br />
128<br />
100<br />
67<br />
50<br />
0<br />
Low EE scenario<br />
Impact on GDP<br />
High EE scenario<br />
Impact on public f<strong>in</strong>ances<br />
Source: Copenhagen Economics based on the stated sources <strong>in</strong> the above calculation steps.<br />
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