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Recognising Energy Efficiency Value in Residential Buildings

Objective

ReValue aims to lead the development of appraisal norms and standards that REcorgnise Energy Efficiency Value in social and private residential real estate.

Financing decisions in real estate are often based on formal appraisals of value. Current norms on valuation, such as RICS', recognise Energy Effiency (EE) as a potential source of value, but do not require taking this into account in appraisals, nor provide clear guidance on how to do so. As a result, investors are not provided with the formal basis to invest in or to provide financing (eg through mortgages) for EE components

For a standard renovation of a residential unit, up to 10k Euro in EE could be made ' bankable' if valuation norms and standards would better reflect long term EE value. At EU level, this could potentially unlock 20Bn Euro per year in financing of EE measures. Since 26% of EUs energy is consumed in homes, increasing investment on EE could significantly contribute to H2020 targets

Specific ReValue objectives are:
1 develop and propose a set of norms and policies in the valuation of residential property that recognise EE
2 align valuation techniques with such norms
3 validate the framework in 4 pilot projects across Europe
4 Stimulate uptake of the framework through widely recognised norms and support from key industry stakeholders

ReValue's consortium is industry-lead, including RICS, one of the globally recognised standardisation bodies, and Savills, a leading valuer, and academic and professional experts in accounting, economics and EE design. Through observer roles, the project collaborates with building owners across Europe, investors and a range of entities that support exploitation and dissemination of project results

In doing so, ReValue will contribute to reaching EE19's expected impact, by aligning valuation norms for optimal levels of investment of energy efficiency, and by increasing trust of investors and financiers in the financial viability of energy efficient measures

Call for proposal

H2020-EE-2014-2015

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Sub call

H2020-EE-2014-3-MarketUptake

Coordinator

BAX INNOVATION CONSULTING SL
Net EU contribution
€ 311 250,00
Address
Calle Casp 116-118, 5
08013 Barcelona
Spain

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Region
Este Cataluña Barcelona
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00

Participants (5)

SAVILLS (UK) LTD
United Kingdom
Net EU contribution
€ 298 750,00
Address
33 Margaret Street
W1G 0JD London

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Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00
UNIVERSITEIT MAASTRICHT
Netherlands
Net EU contribution
€ 261 250,00
Address
Minderbroedersberg 4
6200 MD Maastricht

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Region
Limburg (NL) Zuid-Limburg
Activity type
Higher or Secondary Education Establishments
Non-EU contribution
€ 0,00
ROYAL INSTITUTION OF CHARTERED SURVEYORS
United Kingdom
Net EU contribution
€ 230 000,00
Address
Great George Street 12 Parliament Square
SW1P 3AD London

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Activity type
Other
Non-EU contribution
€ 0,00
LUWOGE CONSULT GMBH

Participation ended

Germany
Net EU contribution
€ 277 500,00
Address
Donnersbergweg 2
67059 Ludwingshafen

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Rheinland-Pfalz Rheinhessen-Pfalz Ludwigshafen am Rhein, Kreisfreie Stadt
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00
VANHIER BV
Netherlands
Net EU contribution
€ 190 000,00
Address
Rijksweg 103
1906 BG Limmen

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
West-Nederland Noord-Holland IJmond
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00