Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/227643 
Year of Publication: 
2019
Series/Report no.: 
CASE Reports No. 498
Publisher: 
Center for Social and Economic Research (CASE), Warsaw
Abstract: 
EuroPACE is an innovative financial mechanism inspired by an American building improvement initiative called Property Assessed Clean Energy (PACE). The innovative character of the EuroPACE mechanism is that financing through EuroPACE is linked to the taxes paid on a property. In other words, the financing lent by a private investor is repaid through property taxes and other charges related to the buildings. EuroPACE is therefore in line with the EC's objectives of (1) putting EE first, (2) contributing to the EU's global leadership, and (3) empowering consumers to enable MS to reach their energy and climate targets for 2030. Last but not least, EuroPACE could contribute to the democratisation of the energy supply by offering cash-flow positive, decentralised EE solutions. The EuroPACE mechanism engages several stakeholders in the process: local government, investors, equipment installers, and homeowners. To establish the EuroPACE programme, several conditions must be satisfied, each of which are relevant for different stakeholder at different stages of the implementation. For the purpose of this report, we divided these criteria into two categories: key criteria, which make the implementation possible, and complementary criteria, which make the implementation easier. For the time being, it is a pure hypothesis to be tested with potential EuroPACE implementation.
Subjects: 
energy efficiency
local and regional authorities
on-tax financing
property taxation
renewable energy sources
residential retrofits
JEL: 
G23
H71
O13
O18
P18
R11
ISBN: 
978-83-7178-683-9
Document Type: 
Research Report

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