An estimated €20bn are programmed for energy renovation and energy efficiency. With co-financing from member states, this could could reach €29bn.
This is an important contribution to financing renovation. However, these funds alone cannot cover the investment needed to meet the 55% emissions reduction target for 2030.
In the run up to 2030, the new cohesion funds will be used alongside the Recovery and Resilience Facility (RRF) to support the delivery of renovation investments across the EU. RRF and cohesion funding combined will provide over €66bn for energy renovation across the EU until 2029.
To achieve maximum impact of this unprecedented quantity of EU money, effort must be made to use the funds as efficiently as possible. To do so members states should focus on: