Toolkit on Citizen Financing Schemes for Energy Efficiency
On 30 of April CitizEE, managed by a consortium of European organisations including EUROCROWD and co-financed by the European Commission, has closed with a final toolkit including the main outtakes. The main aim of this joint venture was to create an overview of how to implement Citizen Financing Schemes for energy efficiency and how public authorities can support them.
Energy efficiency is gaining importance in combating climate change, as one third of the EU’s CO2 emissions are caused by inefficiency in the building sector. The challenge ahead needs new innovative funding schemes to bring more private investment on-board.
The work delivered by CitizEE showcases that a citizen financing market, involving cooperatives, and crowdfunding platforms, presents an opportunity for interested parties in adding value to the energy transition. In addition, combining cooperative funding or crowdfunding model with public financing instruments can have relevant impact. Integrating citizen financing with public funds can be used as an incentive for private investment, risk diversification and increased reach of public measures.
As a result, public funds can be leveraged not only financially through private funds, but also on a political level through the involvement and support of citizens. This alignment of public and private, both on institutional and citizen levels can generate attractive investment opportunities for all involved parties for energy efficiency projects. Creating citizen financing schemes is therefore a relevant objective for public authorities interested in maximising the impact of public funds and citizen engagement.
However, legal and operational issues at the level of EU support and local authorities continue to hinder the effective roll out of scalable Citizen Finance Schemes, such as for example EIB backed Investment Platforms. A final overview of lessons learned in creating co-financing with European Fund for Strategic Investments by pilot projects and an overview of how to approach can be found in a Toolkit.