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

National energy efficiency funds are widely recognised as a highly effective mechanism for boosting investment across all sectors. However, their success depends on careful design and implementation.

At the end of 2023, North Macedonia’s national energy efficiency fund was finally enshrined in law. The Development Bank of North Macedonia will manage the fund, with financing of EUR 40.4 million already secured for crucial investments in public buildings.

However, the residential sector, despite its substantial potential for energy savings, particularly in multi-apartment buildings, is excluded from this initial funding. With 80 per cent of North Macedonia’s housing stock built before 1991 and highly inefficient, a vast number of buildings urgently need renovation.

For these reasons, this vital fund must be designed to enable all household types to benefit from energy efficiency investments, with appropriately tiered support and targeted measures for vulnerable consumers.

This publication is also available in Macedonian.

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