The project in a nutshell
Île-de-France Energies, an innovative instrument for energy renovation of housingrenovation
Île-de-France is the biggest region in Europe. It is highly urbanized and confronted to an aging, energy-consuming housing stock: more than a million co-ownerships are in Class E, F or G. The potential for a better energy efficiency consumption of these buildings is considerable, but few homes are actually taking the steps to energy renovation. Too complex, too costly for collective co-ownerships, those projects lack adequate organization and necessary financing.
To overcome these obstacles, the Île-de-France region established in 2013 Energies POSIT’IF, an innovative public-private company which has become Île-de-France Energies.
Île-de-France Energies is the first company to leverage innovative financial tools such as third-party financing for condominium energy renovation. In principle, energy savings are mobilized to finance retrofit works. Practically however, it quickly appeared necessary to support the condominium both on the technical and financial aspects of the renovation. Île-de-France Energies designs the project, estimates energy savings, consults works companies, develops a financing plan encompassing every public grant available with borrowing options for remaining amounts, applies for the different financial grants and monitors the renovation works. With third party financing, further financing is available to co-owners where additional loan repayment is essentially offset by the energy savings.
A turnkey energy renovation for co-owners
To foster the commitment of co-owners to deep renovations, Île-de-France Energies offers a turnkey technical support coupled with an all-inclusive financing solution. The services encompass all phases of the renovation project:
- An architectural, energy and financial audit performed based on standard specifications issued by ADEME (Environmental and Energy Management Agency), the Île-de-France region, the City of Paris and the Parisian Climate Agency.
- Technical and financial design of the works project
- Implementing and monitoring the works, enforcement of the financing plan at the collective and individual level
A catalyst of the energy renovation market
The model developed by Île-de-France Energies contributes to the development of the energy renovation market in the Île de France region, which mobilizes around 75 000 local and non-transferable jobs for the building companies. The energy renovation projects represent long-term investments and an important competitiveness issue in the Region. Île-de-France Energies also plays an important role by opening renovation projects to very small, small and medium-sized enterprises, under-represented in the private renovation market. The impact is potentially very important on employment, since each million euros investment in building insulation is considered to result in 16 direct jobs, and a consolidation of the sector
A European project
Île-de-France Energies, then Energies POSIT’IF, was launched in cooperation with the Intelligent Energy Europe Programme of the European Commission which has both funded the structure from 2014 to 2017 and hosted a European Network of like-minded experiments. During this period, the development of Île-de-France Energies was enabled, and the activity of the structure began with seven energy works leading to an estimated 1.000 jobs created in the renovation sector. Although technically conceived as an engineering aid to trigger local investments, this European assistance was decisive in allowing Île-de-France Energies to develop its innovative model. The program also financed a comprehensive training of co-owners, condominium managers, public advisors and renovation professionals to the specific issues of co-ownership energy renovation.
Île-de-France Energies has also benefitted from a 100 million euro credit line by the European Investment Bank in the Juncker Plan framework. This financing line aims at developing third party financing in renovating Île-de-France housing.