A well-designed national energy efficiency fund in North Macedonia will enable long-term energy savings in the residential and public sectors
Briefing | 20 December 2024
Establishing national energy efficiency funds is one of the best mechanisms to increase investments in energy efficiency across all sectors. However, that depends on how it is established. The creation of an energy efficiency fund in North Macedonia is part of many strategic documents over the years, and it finally became part of the legal framework at the end of 2023, according to which is to be managed by the Development Bank of North Macedonia. Financing of EUR 40.4 million for its establishment has already been secured in order to start much needed investments in public buildings.
However, the residential sector is not part of this initial financing although the greatest potential for achieving energy savings on demand side is probably in multi-apartment residential buildings. 80 per cent of the housing stock in North Macedonia was built before 1991 and is highly energy inefficient, representing a very large number of buildings awaiting renovation.
It is of utmost importance for the Fund to be set up in a way that enables investments in energy efficiency by all kinds of households, with well-adjusted measures and different levels of support for various groups, including vulnerable consumers.
This publication is also available in Macedonian.
Theme: Western Balkans | North Macedonia | energy efficiency
Location: North Macedonia
Project: Coal in the Balkans
Tags: Balkans | balkan coal | energy efficiency
Never miss an update
We expose the risks of international public finance and bring critical updates from the ground. We believe that the billions of public money should work for people and the environment.
STAY INFORMED
