October 23, 2020

Turnkey Retrofit is launching Solutions4Renovation!

Designed to ease the renovation journey for homeowners, the one-stop-shop also aims to boost renovations in France, Spain and Ireland. Solutions4Renovation is a homeowner-centric renovation journey which transforms the complex and fragmented renovation process into a simple, straightforward and attractive process, upskilling the industry and enhancing cross-sector engagement, as well as mobilising private investment.

The ‘Renovation Wave’ initiative & the need to speed up the renovation pace

The building sector is responsible for 40% of Europe’s energy demand and 36% of CO2 emissions. As the European Commission has just announced its “Renovation Wave” strategy to increase the renovation rate and depth across the EU, the launch of Solution4Renovation could not be more timely. In fact, if we are to meet the 2050 decarbonisation goals set by the EU, action is needed now to speed up the renovation rate, now continuing to linger between 0.2 – 1.1% per year[1].

The EU Green Deal identified key challenges such as market failures (e.g. split incentives, the mismatch between financing needs and financial products offered), lack of expertise (e.g. insufficient workforce, lack of digital and green skills) and regulatory barriers (e.g. piecemeal and overlapping policies and laws, insufficient compliance with existing requirements). Better renovation services can be a part of the solution: one-stop-shops reduce transaction costs, overcome information barriers such as a lack of information on available financing or tailored advice on carrying out refurbishments, as well as offer integrated solutions for building renovations.

Solutions4Renovation – a homeowner centric platform to ease the renovation journey

Solutions4Renovation will address drivers of building renovation that go beyond a desire to reduce energy bills and increase asset value, such as home improvement, increased comfort, enhanced health & quality of life (additional added-value services for e.g. accessibility, security, etc.). Via a Punch Diag, the homeowner is offered tailormade solutions and is guided through the whole renovation process, from planning to the completion of the works.

“The French government has just decided to allocate a €2 billion financial boost for the energy renovation of housing. Landlords and co-owners of properties will be reimbursed up to €20,000 on eco-friendly renovations, regardless of their income. The Solution4Renovation platform arrives at the right time to connect homeowners who want to improve the thermal performance of their dwelling or apartment and qualified professionals to carry out this work” says Dominique Caccavelli, coordinator of the Turnkey Retrofit project.