Multi-perspective design of energy efficiency policies under the framework of national energy and climate action plans

Abstract

Towards the fulfilment of Paris Agreement, European Union aims to achieve a set of ambitious climate and energy targets, with energy efficiency pillar having the protagonist role. The paper proposes a multi-perspective approach towards designing a balanced, realistic and cost-optimal energy efficiency policy portfolio, in the extended framework of the NECP, taking into account a set of targets, constraints, particularities and political priorities. In this respect, going from measures to policies, the proposed methodology achieves to design an optimal energy efficiency portfolio, balancing the scale between the diversification of different financial sources and the associated risk. The proposed methodology is applied for supporting the Greek NECP. Greek State has declared its financial limitations towards the fulfillment of its EE targets. The results of the application show that the mobilisation of additional public-private co-investments, through the use of appropriate financial mechanisms, appears to be a feasible model, and reveals a high cost effectiveness improvement potential against the existing policies.