Financing energy efficiency through grants lessons learned in Austria

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1 Financing energy efficiency through grants lessons learned in Austria FINANCING ENERGY EFFICIENCY FUNDING OPORTUNITIES, INSTITUTIONAL MODELS AND SUCCESFUL PRACTICES Wolfgang Diernhofer 1

2 Contents Introduction - Kommunalkredit Public Consulting Background Implementation Development and impacts Application in the carbon market context Conclusion 2

3 Profile of KPC Business Owners Support Scheme and Programme Management, international Consulting 90 % Kommunalkredit Austria, 10 % Raiffeisenlandesbank OÖ Revenue EUR 15.7 million (2013) Projects about 200,000 projects since 1993 with a total support volume of approx. EUR 9.7 billion Staff % 48% 9% 4% Umweltconsultants Environment consultants Sonstige Other Juristen Lawyers Economists Wirtschaftswissenschaftler 3

4 Fields of Business Support scheme and programme management International Climate Protection Austrian JI/CDM Programme Climate Austria - Voluntary Carbon Offsetting Climate Finance International National and International Consulting for the Environment & Energy segment Management of the Environmental and Water Management Fund (UWF) Total assets 2014: EUR 1.9 billion 4

5 National and International Consulting Examples of international consulting projects EU Study on blending mechanisms for infrastructure financing and on publicprivate collaboration in in the context of EU development acooperation EU Support to municipalities in Armenia, Georgia, Moldova, Ukraine and Belarus for implementing energy efficient projects EBRD Support in the implementation of an EBRD Credit Line for the energy efficient renovation of residential buildings in Russia (RuSEFF Residential) GIZ Support to municipalities in Moldova for improving municipal service provision OECD Study on the identification of climate change adaptation measures for the water sector in Moldova IFC Support in the set-up of a Homeowners Association Resource Center in a city in Ukraine EIB Support in the implementation of the EIB Credit Line Green Initiative in Slovakia and the Czech Republic ADA Policy advice for and support of water and wastewater projects within the framework of the Austrian Development Cooperation in South Eastern and Eastern Europe Examples of national consulting projects BMLFUW* Modified cost-effectiveness analysis for contaminated site rehabilitation BMLFUW* Technical support for technology transfer expert group (EGTECH) BMLFUW* Study of Industrial Waste Heat potential in Austria Verbund AG Study of market potential for small-scale CHP plants Technical, economic and financial consulting according to ISO 9001:2008 Quality Management Standard * Federal Ministry of Agriculture, Forestry, Environment and Water Management 5

6 Background 6

7 Financing EE through grants Purpose Main instrument to support Austria s emission reduction / energy efficiency targets Supporting local economy and green technology sector Supporting the transfer to low carbon economy 7

8 Financing EE through grants Easily accessible direct project support Straight forward monitoring (MWh saved / t CO2 reduced) Fostering green technologies Job creation / reflationary Public expenditures / impact on state budget efficiency of ressources spent Market saturation / smaller impacts over time 8

9 Key figures Key Figures of KPC 2014 Number Investment Costs Financial Support Clearances Disbursements Environmental support schemes of the federal government ,2 326, ,4 Water management ,5 132, ,0 343,6 Environmental support in Austria ,3 76, ,0 61,7 Consultancy services ,5 1,1 0,0 1,1 Commercial renovation initiative ,6 24,9 445,0 13,9 Private renovation initiative ,1 64, ,0 91,0 Remediation of contaminates sites 16 33,2 27,6 8,0 54,1 Climate and Energy Fund ,5 49, ,7 Photovoltaic systems ,7 10, ,9 Wood-fired heating systems ,8 3, ,1 Energy efficiency support 426 0,3 0, ,5 Mobility management ,0 10, ,7 Work programmes ,7 24, ,5 Other programmes ,2 53, ,3 k:a mobil 110 4,4 0, ,2 JI/CDM programme 0 0,0 0,0 6 3,7 EU co-financing 35 17,5 2, ,0 Agricultural biomass 7 3,4 1,0 0 0,0 Eco-electricity-hydro-power plants ,2 38,0 55 0,0 Handwerkerbonus ,6 9, ,5 Waste-avoidance initiative 19 1,4 0,2 10 0,1 Photovoltaics in Vorarlberg 145 1,9 0, ,3 Photovoltaics in Vienna 64 1,0 0,2 55 0,0 Grid connection support scheme in Tyrol ,7 0,9 82 0,0 Salzburg Climate and Environment Pact ,1 0 0, ,5 Total ,9 429, ,4 9

10 Key figures Development over time Key Figures of KPC Number Investment Support granted Clearances Disbursements KPC total ,1 378, ,9 KPC total ,0 436, ,0 KPC total ,1 382, ,3 KPC total ,4 457, ,1 KPC total ,4 582, ,0 KPC total ,4 488, ,4 KPC total ,7 524, ,9 KPC total ,1 475, ,6 KPC total ,8 471, ,8 KPC total ,9 429, ,4 Total , , ,4 2014: approx. EUR 2.5 billion investment have enabled/created 30,000 jobs 10

11 Implementation 11

12 Eligible Technologies Energy Supply Individual Biomass Units Biomass District Heating Systems District Heating Power Stations Heat Pumps Thermal Solar Installations RE-Power Generation Production of Biomass-Fuels Geothermal District Heating Systems Gas CHP units Mobility Mobility Management in Enterprises Energy Saving Building Renovation Energy Saving Measures Low & Zero Energy Buildings LED-Lighting Efficient Electrical Drives Cooling Others Mgmt. of Raw Materials and Resources Prevention of Air Pollution Reduction of Hazardous Waste

13 Environmental Subsidy Scheme Client Federal Ministry of Agriculture, Forestry, Environment and Water Management Main Topic of the Programme Support voluntarily project investments to gain Target Group enterprises, communities - carbon savings by increase of energy efficiency or use of renewable energies - prevention of air pollution, noise, hazardous waste, Investment Costs ( ) 1.868,0 Mio. Euro Financial Support ( , inkl. EU) 318,7 Mio. Euro (grants) Reimbursement Rates Applications/Supported Projects ( ) ~ Applications/ Contracts Environmental Effects kt CO 2 /a; 20,4 Mio. t CO 2 (lifetime) RE: GWh/a, (10,3 PJ/a) Up to 30% of environment related costs EE: GWh/a; (4,5 PJ/a) max. 1,5 Mio. Euro per project new jobs Based on Environmental Aid Act (UFG), since 1993; 13

14 Grant Scheme for Building Renovation Clients BMLFUW, BMWFW Main Topic of the Programme Target Group Building owners (residential or commercial use) Support for project investments in building renovation (thermal insulation) to - gain increase in energy efficiency in the housing sector - enforce the use of RE-heating systems Investment Costs (priv./com.) 1.751,5 Mio. Euro / 402,2 Mio. Euro Financial Support 218,7 Mio. Euro / 68,8 Mio. Euro (grants) Reimbursement Rates Supported Projects per Year (priv./com.) contracts/ contracts Environmental Effects 367 kt CO 2 /a; 11,0 Mio. t CO 2 (lifetime) RE: +4,5 GWh/a, (0,02 PJ/a) Up to 30% of environment related costs EE: GWh/a; (4,2 PJ/a) max. 1,5 Mio. Euro per project new jobs Projects must exceed building standard regulations; 14

15 Development and impacts 15

16 Development and Impacts supported projects others energy efficiency renewable energies CO 2 -reduction (t/a) others energy efficiency renewable energies

17 Development and Impacts Investment costs (MEUR) 900,0 others energy efficiency 800,0 renewable energies 700,0 600,0 500,0 400,0 300,0 200,0 100,0 Financial support (MEUR) 100,0 others energy efficiency 90,0 renewable energies 80,0 70,0 60,0 50,0 40,0 30,0 20,0 10,0 0, ,

18 Development and Impacts Environmental effect Investment costs Financial support Reduction of CO 2 -Emissions EURa/t 210 EURa/t Increase RE-production 651 EURa/MWh 111 EURa/MWh Increase of EE-rate EURa/MWh 255 EURa/MWh On average: Projects that reduce energy consumption by 1 MWh/a, require 1,490 EUR of investment and receive 255 EUR of financial support 18

19 Application in the carbon market context 19

20 Utilization of carbon markets via Green Investment Schemes Parties with excess amount of carbon units sell its emission reductions Ensuring environmental integrity ( Greening ): Proceeds from sale of emission credits must be invested in low-carbon projects real and measurable climate effects (CO2 reductions) in the host country Green Investment Schemes - selection of appropriate greening activities to achieve CO2 reductions Projects & programmes administered as environmental support schemes 20

21 Austria s GIS transactions so far Several transactions with 4 partner countries: Estonia, Latvia, Bulgaria, Czech Republic, aprox. 38 mio emission reductions (CO2e) - Climate effects: 1/3 RE technology investments, 2/3 energy efficiency investments 21

22 Conclusions 22

23 Financing EE through grants Conclusions Grant element: Demand: Project types: Impact: Private households and communities favor grants Stable demand for project support Majority of projects (in absolute numbers) from private building owners Funds provided can be directly related to parameters measured (MWh saved / t CO2 reduced) Contribution to low carbon economy: EE investments directly related to mitigation measures International context: easily linked to carbon market instruments 23

24 Thank you! Kommunalkredit Public Consulting GmbH Wolfgang Diernhofer Türkenstraße 9, 1092 Wien Tel

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