Nearly 60% of Europeans live in detached and semi-detached houses, with an average of two adults in every family home4. However, up to three out of four of these homes are not energy efficient5. With 40% of Europe’s energy being consumed by homes and buildings and 36% of CO2 emissions being emitted by them6, there is a clear need for more energy-efficient homes throughout Europe. Therefore, private homeowners are key to achieving a more energy-efficient building stock.
Unlocking private investments in renovation
Carrying out the type of renovation that would transform a house into an energy-efficient and healthy home depends on the private homeowner’s means. Research conducted by Copenhagen Economics reveals that the available capital of an average European household is €139,000. Taking the national distributions of wealth into account, this means that 70% of European households would be able to afford a staged renovation. The available capital is in this analysis defined as financial assets, such as savings, shares etc., while non-financial assets are defined as equity available.
4 “The relation between quality of dwelling, socio-economic status and health in EU28 and its Member States”, Ecofys 2016.
5 COM (2016) 860 final Annex
6 European Commission, Buildings (2017), available here: https://ec.europa.eu/energy/en/topics/energy-efficiency/buildings