BRUSSELS, March 14, 2023 (Reuters) - Buildings across Europe could be renovated to cut emissions and save energy after the European Parliament on Tuesday approved a bill that aims to lower households' energy bills and wean EU countries off Russian gas faster.
"Soaring energy prices have put the focus on energy efficiency and energy saving measures. Improving the performance of Europe’s buildings will
reduce bills and our dependence on energy imports," said Ciaran Cuffe, lead lawmaker on the rules.
According to the Commission buildings are responsible for around 40 percent of energy consumption and around a third of greenhouse gas emissions in the EU. If houses are better insulated or modern heating systems are used, this can significantly reduce energy requirements.
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According to estimates by the KfW development bank, the targeted climate-neutral conversion of the building could cost EUR 254 billion in Germany alone. Tenants and owners will probably have to pay for this first and foremost. However, money from EU coffers should also be made available for the renovations. At the end of 2021, the Commission said that up to EUR 150 billion would be available from the EU budget by 2030.
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Inflation is making renovations an even bigger challenge for both consumers and governments.
Improving the energy efficiency of single family homes is usually split into three categories, BPIE’s Sibileau said: Insulation is the most expensive,
costing around €40,000, followed by changes to the heating supply at around €10,000, and energy management systems that cost below €150.
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