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2016-11-04 00:00:00
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The European Bank for Reconstruction and Development (EBRD) has announced a framework worth around €200 million which would see a huge improvement in the energy efficiency of residential buildings across Poland. Currently, Poland has big potential to improve energy efficiency and this latest news could be the step that brings the country forward.
According to recent statistics, around 40% of the country’s energy comes from residential properties. Furthermore, around 70% of this is taken by space heating. As a result, the country is somewhat dependant on coal which currently takes up 40% of the country’s heating. When compared with other countries, this is a massive amount and the highest, in terms of residential, in the European Union.
In an attempt to address this issue, credit lines are extended to local banks via the Polish Residential Energy Efficiency Financing Facility (PolREFF). After the banks have the money, they can then lend to housing associations, building owners, cooperatives, developers, suppliers of materials, and more so that the industry can become as efficient as possible. At the moment, Bank Zachodni WBK is the only financial institution partnered with PolREFF but this is expected to change in the near future.
For companies that are eligible, they have an opportunity to receive loans for roofs, insulation, floors, energy-efficient windows, modern lighting, solar thermal and PV systems, heat supply systems, heat pumps, and any other installation or change that will make a home more efficient when it comes to saving energy.
Just recently, PolREFF released equipment and materials that are eligible and want to extend the finances to have them installed in as many residential properties as possible. Compared to their current performance, PolREFF wants to improve energy efficiency by 20% as well as reducing the utility bills for all. Since launching, PolREFF has gained support from the Taiwan Business EBRD Technical Cooperation and has built its own website so that the general public can utilise the available information and benefit from the loans.
EBRD Regional Director for Poland and the Baltic States, Grzegorz Zielinski, has said “Strengthening Poland’s position in the energy sector is imperative for the country’s future development. Savings in consumption and improvements to reduce losses will go a long way towards benefiting the economy, the environment and the people of Poland. We are proud to launch our innovative new framework today and invite all interested parties to join us. This framework is not only good, it also works.”
After years of refining the service, PolREFF also now provides a comprehensive technical assistance package to the banks as well as the borrowers. In addition to this, they also have access to independent specialist engineers who are available on the website to give free advice. Additionally, borrowers can make the most of some extremely useful tools on the website including the Technology Selector as well as the Energy Savings Calculator. By using these, residential buildings can be modernised efficiently and for the best possible price. Also, it means that nobody needs to be an expert to research the best technologies.
Since 1991, the EBRD has completed nearly 400 projects in Poland for a grand total of €8.3 billion. For many years, they have supported the banks and many businesses but they have also recently expanded their portfolio, both equity and debt, within the financial sector where the demand remains high.
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