Improving energy efficiency in the housing sector permits more energy for alternative uses. It also alleviates the risks of political instability which may arise due to energy shortages or energy price inflation for households.
Economic benefits and uses of saved energy
Energy saved thanks to efficient distribution and thermal optimisation in the residential sector can be alternatively used to improve the general welfare of the community. It can even help to power new ventures on the local or regional level.
Better efficiency offers savings with respect to operational costs for tenants while service providers benefit from the more efficient transportation of energy services. The development of the energy sector, enabled by the energy savings, brings a positive influence on research and innovation, business development, employment, and investment. It offers, therefore, an effective tool to stimulate economic growth and to boost national economic competitiveness.
Investing in energy efficient homes provides quicker and cheaper results than alternatively increasing capacities for energy supply. Moreover, improving energy efficiency in housing is a great opportunity to promote economic development, environmental conservancy, human rights, quality of life and social equality.
Investing in energy-efficient retrofitting can also have a strong positive impact on the employment and job market. Construction works often rely on labour-intensive, locally carried out projects that can lower unemployment rates. Moreover, new technologies require a high level of expertise for their development, implementation and user training. As a result, achieving the necessary level of the market capacity for the energy efficiency can also boost the associated retail and consulting industries. This implies that direct and indirect impacts may stretch far beyond the construction industry, having a genuine multiplication effect.