ESI Europe 2.0 – Driving Investment in Energy Efficiency through Energy Savings Insurance in Europe 2.0

The overall objective of the project is to mobilise private sector investments and financing for energy efficiency (EE) projects in Croatia, Greece, and Slovakia, with a special focus on SMEs. The project will do this by replicating the successful Energy Savings Insurance (ESI) financing model which comprises financial and nonfinancial mechanisms designed to de-risk investments in EE and overcome barriers faced by SMEs and these types of projects. Innovative financial strategies and business models that are capable of de-risking investments in energy efficiency are crucial to change the behaviour of customers towards prioritising investments in energy efficiency solutions. The aim of this project is to mainstream the ESI mechanisms, which should be able to put in place mechanisms (ESI model) that can be used by SMEs (customers) and providers to reduce significantly their investment risks associated with energy efficiency, stimulate the demand for EE projects, and leverage enough interest and market motivation to mobilize stakeholders in the target countries and other EU countries.

The specific objectives of the project are to:

  • Implement and mainstream the innovative ESI financing model in Croatia, Greece and Slovakia. This involves setting up the mechanisms that compose the model including: (i) a standardised contract that facilitates SMEs and technology providers (TP) the negotiations of this type of projects; (ii) an energy savings insurance that is used to compensate the SME in case the EE project does not reach the expected energy savings; and (iii) validation mechanisms that provides an independent assessment and verification of the project, in each country. Key stakeholders will be convened and consulted on the products to ensure buy-in.
  • Engage first movers and champion TPs, SMEs and banks that will use the model to sell their EE technologies.
  • Build the capacity of key market players including TPs, SMEs (who will invest in projects), and banks (who will finance these projects) to build a pipeline of EE projects in Croatia, Greece and Slovakia. The project includes sourcing the EE projects, guiding the validation and financing process, and guiding TPs and SME during implementation.
  • Develop communications and marketing material to promote the ESI Europe 2.0 model, building on the results from ESI Europe 1.0, where the project developed a successful commercial brand “GoSafe with ESI”.
  • Adapt the existing ESI Europe management information system (MIS) (already developed through the ESI Europe 1.0) to the new countries and new technologies. MIS is used by SMEs, TPs, insurance companies and banks to track the performance of the projects.
  • Create and institutionalize long-lasting tools including the improved ESI Europe Toolkit (already developed through the ESI Europe 1.0), explanatory ESI Europe Video series, recorded webinars to enable streamlined replication of the ESI model across Europe.
  • Promote and disseminate the ESI model across Europe via social media, best practice case studies, press material and EU newsletter articles.
  • Position EE and ESI as a way to address the current economic crisis and recovery of SMEs given the COVID-19 situation.

Partners:

Basel Agency for Sustainable Energy (BASE) (coordinator) – Švicarska

Society for Sustainable Development Design (DOOR) – Croatia

Centre for Renewable Energy Sources and Saving (CRES) – Greece

Slovak Innovation and Energy Agency (SIEA) – Slovakia

 

 

Project duration:
36 months (September 2021 – August 2024)

DOOR role in the project:
Partner

Budget:
1,485,893.75 EUR

Funding:
Horizon 2020