BPIE: Europe's buildings under the microscope - PU Europe

Figure 3C3 below compares the present value investment and energy savings – the difference providing
the net savings to consumers. While both the deep and the two-stage scenario achieve broadly the same
level of CO 2
reduction, the deep scenario requires a significantly higher absolute investment level. In
return, it also generates higher energy cost savings; however, the net savings are smaller than in the
two-stage scenario. The high investment needs of the deep scenario are caused by a fast increase in deep
renovation measures in the first decade.
The two-stage scenario requires a lower investment due to a slower increase in the number of deep
renovations while benefiting from a longer learning period which leads to cost reductions.
€bn (present value)
1400
1200
1000
800
600
400
200
0
Figure 3C3 – Lifetime financial impact for consumers (present value)
Source: BPIE model
Baseline Slow & shallow Fast & shallow Central Deep Two-stage
Investment Energy cost savings Net saving
Figures 3C4 shows the employment impact resulting from the investment in improving the energy
performance of Europe’s building stock, as an average over the period. It can be seen that, while
continuing with business-as-usual would employ under 200,000 people over the next 40 years, the
accelerated renovation scenarios would generate between 500,000 and over 1 million jobs.
Average personal jobs (M)
1.2
1.0
0.8
0.6
0.4
0.2
0.0
Figure 3C4 – Average employment generated in 2011-2050
Source: BPIE model
Baseline Slow & shallow Fast & shallow Central Deep Two-stage
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