Periodic Reporting for period 1 - REGENERATE (Stimulating eco-sustainable home renovation to maximize social, environmental and economic impact on the Balearic Islands)
Período documentado: 2021-06-01 hasta 2022-11-30
REGENERATE galvanizes clean energy transition on the three Balearic Islands of Palma, Menorca, and Ibiza by triggering an investment of €44M in eco-sustainable renovation of 3,000+ homes. The Islands have an urgent need to transform their tourism-dependent economy into a resilient and green one, as they are especially vulnerable to climate change and are highly dependent on fossil fuels. The REGENERATE formula combines a market-driven, people-centric support with affordable financing and employs local One-Stop-Shop offices. Stimulating bottom-up demand is at the core of this approach; REGENRATE builds upon existing customer engagement infrastructure and practices on the islands. The impact goes well beyond energy savings and CO2 emission reduction by creating jobs, boosting health, wellbeing, and comfort.
During the first 18 months of the project the work has been mainly focused on the design and set-up of the OSSon the Balearic Islands, including their business models and the IT tools to be used. There's been a delay in the project implementation due to legal and administrative issues faced by the partners of Palma deMallorca and Ibiza that have impacted the overall work plan of the project. Nevertheless important developments have been achieved in terms of the design of the OSS and the demand assessment report.
The REGENERATE Partners have developed a practical and realistic pipeline of residential buildings that are eligible for sustainable renovation, taking into account several factors that ensure the highest possible level of achieved energy savings and decarbonization of the built environment on Menorca, Palma de Mallorca and Ibiza. Building upon lessons learned from the innovative EuroPACE project, REGENERATE seeks to leverage a pipeline of 44M EUR through a combination of holistic technical assistance and tailored financial support and achieve a total of 5M EUR in energy savings and almost 40GWh/year in terms of primary energy savings throughout the project's duration.
REGENERATE also contributes to local economic development on the islands, fostering job creation and a re-start of the economy after being thoroughly affected by the COVID-19 crisis. The importance of this cannot be understated, given that the islands' economy has been heavily dependent on tourism.
Additionally, the project contributes to the Sustainable Development Goals (SDGs) 7 - Affordable and Clean Energy, 8 - Decent Work and Economic Growth, 11 - Sustainable Cities and Communities and 13 - Climate Action.
REGENERATE also contributes to local economic development on the islands, fostering job creation and a re-start of the economy after being thoroughly affected by the COVID-19 crisis. The importance of this cannot be understated, given that the islands' economy has been heavily dependent on tourism.
Additionally, the project contributes to the Sustainable Development Goals (SDGs) 7 - Affordable and Clean Energy, 8 - Decent Work and Economic Growth, 11 - Sustainable Cities and Communities and 13 - Climate Action.