Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/308479 
Year of Publication: 
2024
Citation: 
[Journal:] DIW Weekly Report [ISSN:] 2568-7697 [Volume:] 14 [Issue:] 46 [Year:] 2024 [Pages:] 278-283
Publisher: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Abstract: 
In light of rising oil and gas prices, investments in energy-efficient building renovation in Germany have risen recently in nominal terms. In 2023, around 72 billion euros were spent on the energy-efficient renovation of residential, public, and commercial buildings, about 12 billion more than in 2021. Nevertheless, investments declined by over six percent in price-adjusted terms, as construction prices rose sharply during this time as well. To reach climate targets, however, significantly more real investments in energy-efficient building renovation are needed, as are framework conditions in Germany and Europe. Investment aid for energy-efficient renovation measures also plays an important role. The German Federal Government increased funding for these measures for 2024 to 16.7 billion euros. However, policymakers will need to provide even more funding in the future due to rising financing and construction costs if they actually want to increase the rate of energy-efficient building renovation.
Subjects: 
Energy-efficient building renovation
construction industry
building investment
JEL: 
E22
Q40
Persistent Identifier of the first edition: 
Document Type: 
Article

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