24 billion euros for building renovation - Strategy, measures for decarbonizing the sector by 2050 approved
Decarbonizing the construction sector requires a total investment of 24 billion euros by 2050. The data is part of the Long-Term Strategy for the Renewal of the Building Stock, published in the Official Gazette, which specifies that of the total investment needs, about 69% is required for the residential sector, 25% for the commercial/private services sector and about 6% for public sector buildings.
The strategy includes a roadmap for implementing appropriate measures towards achieving the long-term 2050 objective of reducing greenhouse gas emissions in the Energy Community by 80–95% compared to 1990, with the aim of achieving a decarbonized building stock by 2050. This is done through the application of energy efficiency measures in buildings, which include thermal insulation, LED lighting, the installation of double-glazed windows or even self-production of electricity through solar panels, which reduce energy consumption and consequently the emissions of pollutants into the air.
For public buildings, the strategy calls for the renovation of 3% of central government buildings per year (deep renovations). The estimated investment required to decarbonise the public building stock is estimated at €1.45 billion by 2050, of which €795 million for central government buildings and €655 million for municipal public buildings. To meet the emission reduction targets, a total of around 8,200 public buildings need to be renovated by 2050.
Meanwhile, as far as residential buildings are concerned, financial support schemes for deep renovations are foreseen. The estimated expected investment that should decarbonize the amount of residential building stock is approximately 16.5 billion euros by 2050. Meanwhile, as far as renovation for the commercial/private services sector is concerned, the necessary investments are foreseen at 6 billion euros.
For 2023, the building stock had a share of around 37-38% of total final energy consumption, ranking as the first largest energy consumer with 37.08%, followed by the transport sector with 36.56% of the total.
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