Main Principles and Solutions for Acceleration of Energy Efficient Renovation in Latvia

The European Renovation Wave aims to at least double the annual energy renovation rate by 2030, especially promoting deep renovation. In order to achieve this goal, EU member states need to overcome the existing obstacles in the whole chain of the building renovation process by using certain policy measures and finance instruments. According to the Ministry of Economics of Latvia, the current necessity is to renovate around 26 thousand multi-apartment buildings. Therefore, not only the problem of the lack of additional financing should be solved but also the pace of implementation should be significantly increased. This study starts with an overview of the main obstacles of the building renovation in Latvia and gives an insight into the main challenges in the achievement of the goal. The study includes the review of existing support programmes and financing schemes, designed to improve the energy efficiency of multi-apartment buildings in Latvia. Moreover, the study analyses the existing support mechanisms in Latvia, and reviews different policy measures for regulatory requirements, fiscal and economic incentives and information campaigns in Europe. In addition, the study proposes an assessment of the availability of financial support for the low-income households, and analyses energy poverty solving tools. As a result, the study defines basic principles and examines the solutions for energy efficient renovation in Latvia – including tax incentives, regulatory framework, development of financial schemes and models for acceleration of building renovation. The solutions have been evaluated considering country specific economic, technical, and social aspects, and defined as a set of recommendations for decision makers.