BPIE: Europe's buildings under the microscope - PU Europe
BPIE: Europe's buildings under the microscope - PU Europe
BPIE: Europe's buildings under the microscope - PU Europe
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A. Economic PERSPECTIVES<br />
It is generally recognised that energy efficiency is <strong>the</strong> cheapest way of reducing carbon emissions. The<br />
EPBD Impact Assessment 42 concluded that <strong>the</strong> potential for cost-effective energy savings in <strong>the</strong> EU<br />
building stock is about 30% in <strong>the</strong> period to 2020. Opportunities to improve <strong>the</strong> energy performance of<br />
<strong>buildings</strong> include:<br />
• Improving <strong>the</strong> <strong>the</strong>rmal performance of <strong>the</strong> building fabric through insulation of walls, floors and roofs,<br />
and replacement and tightening of windows and doors.<br />
• Improving <strong>the</strong> energy performance of heating, ventilation, air conditioning (HVAC) and lighting<br />
systems.<br />
• Installation of renewable technologies such as photovoltaic panels, solar <strong>the</strong>rmal collectors, biomass<br />
boilers, or heat pumps.<br />
• Installation of building elements to manage solar heat gains.<br />
Each individual improvement measure has a cost and a saving associated with it that are specific to a<br />
particular building, as well as ancillary benefits:<br />
• Costs can vary depending on whe<strong>the</strong>r measures are installed individually or as a package, and also<br />
whe<strong>the</strong>r improvements are being <strong>under</strong>taken at <strong>the</strong> same time as maintenance, repair or building<br />
upgrade/modernisation. For example, if HVAC equipment is at <strong>the</strong> end of its useful life, <strong>the</strong> cost of <strong>the</strong><br />
energy efficient option would be <strong>the</strong> marginal extra cost over a standard efficiency replacement.<br />
• Savings will depend on <strong>the</strong> previous level of energy consumption, energy sources used, <strong>the</strong> price of<br />
energy, <strong>the</strong> lifetime of <strong>the</strong> measure and also future movements in energy prices. Some of <strong>the</strong> savings<br />
may be offset mainly when energy efficiency measures address fuel poverty, but overall this rebound<br />
effect may be partially compensated by o<strong>the</strong>r above mentioned factors (e.g. by <strong>the</strong> increase of energy<br />
prices or even by behavioural measures).<br />
• New windows and efficient HVAC systems are known to increase <strong>the</strong> value of a property. The<br />
value of high levels of insulation and <strong>buildings</strong> integrated renewable technologies have yet to be<br />
fully appreciated by consumers, though this will change over time as <strong>the</strong> benefits of low energy<br />
consumption, a good energy rating (A-B) and a low carbon footprint become more recognised and<br />
accepted across society.<br />
• Additional user benefits include lower noise levels and improved comfort from insulation and glazing,<br />
better indoor air quality and temperature control from new HVAC equipment, less operational<br />
maintenance or increased energy security and protection against price fluctuations through<br />
deployment of renewable energy resources that are not dependent on conventional distribution<br />
systems.<br />
• Societal benefits range from reduced GHG emissions, improved energy security and alleviation of fuel<br />
poverty.<br />
• Socio-economic benefits through development of new green businesses and employment<br />
opportunities.<br />
While <strong>the</strong> ancillary benefits are of real value and can often be <strong>the</strong> main factor in determining whe<strong>the</strong>r a<br />
particular investment is made (for example to increase comfort or reduce draughts), <strong>the</strong> case for investing<br />
in improved energy performance is often made purely on economic grounds. This is unlike <strong>the</strong> case<br />
for o<strong>the</strong>r comparable investments in a property. For example, in a residential context, consumers will<br />
often spend large sums of money on renovating kitchens and bathrooms for aes<strong>the</strong>tic reasons, without<br />
<strong>under</strong>taking a cost-benefit analysis.<br />
42<br />
Impact assessment, accompanying document to <strong>the</strong> proposal for a recast of <strong>the</strong> energy performance of <strong>buildings</strong> directive (2002/91/ec), 2008.<br />
http://ec.europa.eu/energy/strategies/2008/doc/2008_11_ser2/<strong>buildings</strong>_impact_assesment.pdf<br />
100 | <strong>Europe</strong>’s <strong>buildings</strong> <strong>under</strong> <strong>the</strong> <strong>microscope</strong>