The LIFE-GiDOMUS project was created with the aim of accelerating the energy renovation of the residential sector through comprehensive support for property owners.
One of the key aspects to ensure its success is the development of innovative financing mechanisms that enable 1) access to financing for energy renovation projects and 2) the financial sustainability of the 7 support offices to be deployed in the Girona region over the next three years (in Gironès, Garrotxa, Pla de l’Estany, Ripollès, Alt Empordà, Baix Empordà, and La Selva).
1) Access to financing to carry out energy renovation projects.
The consortium leading LIFE-GiDOMUS is currently analysing the following models:
Crowdlending for renovation projects. Crowdlending, or collective lending, is a collaborative financing model in which private investors finance energy renovation projects in exchange for a financial return. This mechanism allows property communities or apartment blocks to access capital without solely relying on banks or public subsidies. At the same time, it offers an attractive investment opportunity for individuals and companies wishing to support the energy transition. GiDOMUS One-Stop-shop (OSS) will act as a facilitator, connecting property owners with these crowdlending platforms and ensuring favourable conditions for beneficiaries.
Energy Saving Certificates (CAE). CAEs are a recently regulated instrument that allows monetising the energy savings generated by the renovation of homes. LIFE-GiDOMUS will help property owners certify these savings and sell them to energy companies required to meet legal energy consumption reduction targets. These additional revenues will help finance the projects, reducing the cost to owners. A portion of the income generated through the processing of CAEs could also be used to fund part of the offices.
In addition to crowdlending and CAEs, LIFE-GiDOMUS will explore other combined financing options, such as soft loans or local, regional, and national grants.
2) Access to financing to scale the model to the rest of the province.
To ensure the sustainability of the support offices for renovation, innovative financing models are being explored:
Pay-for-success model. New sources of financing from private actors (investors, foundations, philanthropy) are needed to finance the desired impacts at the energy, environmental, economic, and social levels resulting from the offices' activities. As a starting point, the feasibility of carrying out a social impact contract is being analysed, incorporating private investment from investors who are willing to advance capital in the expectation of a financial, social, and environmental return from the project.
Dynamic sponsorship and sponsorship models. Companies from the energy, financial, and construction sectors (among others) committed to the sustainability of the region can become strategic collaborators of the project and contribute in various ways to financing the services offered by the energy renovation offices.
In conclusion, LIFE-GiDOMUS is committed to a self-sustaining model that combines private and public financing to promote energy renovation at the local level, making it an attractive and replicable model for other municipalities and regions.
If you are a company, foundation, or investor and are interested in learning more about how to collaborate, contact us at info@gidomus.com.