REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on Energy Efficiency financing in Europe An assessment of public spending for energy efficiency and the energy performance of buildings

Summary

Europe faces the challenge of achieving deep decarbonisation by 2050 and enhancing energy security, which requires significantly improving energy efficiency, particularly in buildings where renovation rates are critically low. The European Commission is assessing public and private financing mechanisms, driven by directives like the recast Energy Efficiency Directive and Energy Performance of Buildings Directive, and mobilizing substantial EU funds, including EUR 144.7 billion for 2021-2027 and EUR 103.9 billion from the RRF specifically for energy efficiency. This effort aims to drastically increase renovation rates and meet ambitious energy consumption reduction targets by 2030, requiring annual investments of approximately EUR 370 billion.

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