KfW Experiences from supporting financing schemes for high performance buildings
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1 KfW Experiences from supporting financing schemes for high performance buildings EUSEW conference on Positive Energy Buildings wishful thinking or (built) reality? Brussels, 26 th June 2014 Dominik Bach Policy Officer KfW Liaison Office to the European Union Bank aus Verantwortung
2 KfW Bankengruppe More than 60 years of KfW - Financing with a public mission Promotional bank of the Federal Republic of Germany Founded in 1948 as Kreditanstalt für Wiederaufbau to finance reconstruction after World War II Shareholders: 80% Federal Republic, 20% federal states Headquarters: Frankfurt am Main Branches: Berlin and Bonn Balance sheet total at end 2013: EUR 464,8 billion Financing volume 2013: EUR 72.5 billion More than employees (2013) Best rating: AAA/Aaa/AAA 2
3 Promotional programs for residential buildings Overview New Buildings Existing Buildings Promotional programs can be combined Energy-efficient Construction Energy-efficient Refurbishment energy efficiency Age-appropriate Conversion improving accessibility KfW Home Ownership Program home ownership 3
4 KfW-Efficiency House Complex legal requirements for energy efficiency reduced to two values Annual Primary energy demand Q P (required energy demand for heating, ventilation and hot water; considering the energy source, heat generation, storage, distribution etc.) Transmission heat loss H T energy loss of the building through its components (building envelope ) 4
5 Promotional programs for residential buildings Energy-efficient Construction Energy efficiency interestrate 2,12 % p.a. (effective)* Annual primary energy demand (QP) Transmission heat loss (H T ) (in % of the reference building of EnEV) The higher the level of energy efficiency achieved, the higher the level of promotion KfW-EH % 55 % KfW-EH % 70 % KfW EH % 85 % EnEV 100 % 100 % 5 % 10 % Repayment bonus * (20/3/10) loan amount max. EUR per housing unit, subsidised interest rate over 10 years. 5
6 KfW Bankengruppe Proven and successful business model Refinancing through KfW and on-lending through commercial banks Capital market Funding AAA Rating Government or KfW Interest subsidy Refinancing loan Interest Customers bank Margin for credit risk and handling Loan to customer Interest Customer Promotional mandate defined by KfW Law Advantages: Competition neutrality with commercial banks Concentration on core competences Diversification and minimisation of risk 6
7 Energy-efficient Construction and Refurbishment Our KfW quality management system Energy consulting and project planning Application and commitment Implementation of the measures End of project Program contents Planning and construction quality supported by the technical minimum requirements Online confirmation Plausibility checks of energetic parameters through a verifying-tool Construction Supervision Grants for professional construction supervision Evidence check Sampling of the required technical certifications and bills Energy Experts Calculation check On-site-visits Involvement of an energy expert is mandatory Sampling of the building s energetic calculation Sampling of the realised measures Quality checks 7
8 KfW Bankengruppe Commitment Volumes for energy refurbishment and new buildings since 2006 bn 40,0 Multiple Leverage Effect 35,0 30,0 25,0 public funds loan committments volume of investments triggered 21, Positive promotional effects 2013: housing units reached with our promotion jobs created or secured over one year (estimation) 20,0 18,4 18,5 - CO 2 reduction of t p. a. 15,0 10,0 5,0 9,9 5,5 1,5 3,5 5,1 0,9 8,6 5,5 1,3 8,9 8,7 2,0 1,4 6,5 1,0 9,9 10,3 1,5 1,8 - Positive effect for the public budget due to tax income and social security contributions. High degree of self financing of the promotional programmes due to backflow of funds to the public budget. 0,
9 KfW Bankengruppe Promotion of new highly energy efficient buildings by KfW since 2010 Absolute number of buildings constructed according to KfW standards Distribution of demand for the three KfW standards for new buildings % 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% KfW-EH70 KfW-EH55 KfW-EH40
10 Lessons learnt Energy-efficient construction and refurbishment The more transparent and simple the promotional scheme the better it is to understand and the easier it is to distribute The mandatory involvement of an energy expert is very important to provide comfort to the investor regarding his energy efficiency project assures a high degree of quality and reliability regarding energy efficiency level reached assures target-oriented use of public funds and assures high degree of reliability regarding the promotional effects Monitoring of promotional effects is important to show economic and climatic impact contribution to fulfil the goals of the federal government 10
11 Contact Details Dominik Bach Policy Officer KfW Bankengruppe Liaison Office to the EU Square de Meeûs Bruxelles Phone Fax dominik.bach@kfw.de 11
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