Objectives

Based on a careful analysis of the national and local context in each of the 3 countries where Turnkey Retrofit will be operated, and building upon successful initiatives, the project will trigger investment by unlocking new value streams and reduce the most common financing barriers via:

• Homeowners’ increased awareness and facilitated access to national and local financial support schemes; leading to more demand for holistic approaches;
• An improved offer by trustful market operators and streamlined standards and practices into consistent and transparent processes investors can rely on;
• Decreased total renovation implementation costs and minimised unexpected costs (and uncertainties for homeowners) through the provision of integrated energy renovation solutions (turnkey solutions);
• The provision of additional services that go beyond energy renovation (e.g. home improvement and arrangement, home solutions to improve comfort, security and quality of life) which will make the overall service financially more attractive for investors;
• Built partnerships with key players in the construction value chain including building professionals and installers, financial institutions providing mortgages, utility companies with energy saving obligations, local governments, real-estate agencies, in order to deliver and replicate the Turnkey Retrofit service;
• Creating or replicating innovative local or regional “integrated home renovation services“ operational at the end of the project;
• A collaboration with EeMAP, an initiative focused on the creation of a standardised “energy efficient mortgage” which incentivizes building owners to improve the energy efficiency of their buildings through preferential financing mortgage conditions, therefore connecting the supply of finance with demand for it;
• The use of a community platform developed by the Global Sustainability Initiative (GSI) that enables a new funding model to be leveraged to support sustainable projects across many geographies

Turnkey Retrofit targets the development of a 335M€ investment pipeline for home renovation, corresponding to 96 GWh/year of primary energy savings triggered and 73 896 tCO2-eq/year reduction of greenhouse gases emissions and approximately 14 700 dwellings renovated within the first 5 years of the service beyond the end of the project. [1]

[1] The baseline used is calculated from the actual impact (triggered investments in integrated renovations, energy savings and reduction of GHG emissions) of the two French integrated services managed by EP (Izigloo/ Mon carnet) and OPER (yearly averaged values since the inception of the service), which will form the basis of the Turnkey Retrofit service.