Energy Efficiency Financing in Romania, Hungary and Bulgaria

 In Energy

Vegacomp was participating at the first event in 2018 which was organised by European Commission in partnership with the Ministry of Energy, Ministry of Development, National Body for Regulation of Energy (all institutions from Romania) and the Financial Initiative of UN Program for the Environment. There were speakers from the Ministries from Romania, Hungary and Bulgaria too.

The event had the title “Energy Efficiency financing in Romania, Bulgaria and Hungary” and gathered many participants at Sheraton Bucharest Hotel on 1st of February, 2018.

Some of the ideas collected from this event are mentioned below:

  • Energy Efficiency is very much connected as term with the buildings
  • Smart Financing for Smart Buildings – is a concern for some of financial institutions
  • Transformation of the concept of EE (Energy Efficiency) from a part of Energy system into a stand-alone concept when it comes to financing objects, in order to get easier funds. We need to change the perception.
  • Regional financing for buildings renovations is required
  • EE is related to Consumers and is for Consumers
  • MFB (Hungarian Development Bank) came much closer to the customers and they are proposing a Retail Hub for the clients interested in EE. Thus they reached to 75% applicants for funds for EE to be from rural areas. They are treating the funds as loans for their EE clients in order to move faster. They have 29 millions of Euro available and they received 2 000 inquiries applications.
  • Which is the solution for better financing of EE in the future? Only an integrated approach Public – Private is the key
  • Some years ago there were 5-6 countries in EU where the DSOs (Energy suppliers) offered incentives to their Customers for saving energy but now there are 15 countries in EU.
  • Standardization has many benefits for the market, starting with de-risking, especially for banks and investments funds.
  • A good example from Latvia with Energy Performance contractor who started building renovation but he stopped soon due to the lack of financing. The financing system need to be re-shaped for EE.

Vegacomp is offering the Smart Metering solution for WAGES (water, gas, electricity and steam meters) together with IOTIFY Smart Metering application who integrates all 4 meters data in one application. The communication used is LoRa but can be several communication technologies.

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