GoSafe with ESI builds trust
and credibility in energy
efficiency investments. It
suits technology providers
interested in offering an integrated
solution for energy efficiency projects,
and customers looking to upgrading
energy use with guaranteed savings.
It is based on the ESI model and
includes a standardised contract
with energy savings guarantee, an
independent technical validation
process, and an insurance covering
the guaranteed energy savings.
Access to competitive green credit
lines is also supported by the model.
GoSafe with ESI is now available in
Italy, Portugal and Spain.
Background
The EU 2030 and 2050 targets require
enhanced private investment in
energy efficiency across all sectors.
Innovative financing schemes can
help to create the conditions needed
to ensure an adequate level of
private finance for EE investments.
Small and medium-sized enterprises
(SMEs) represent 99 per cent of
all enterprises in the EU and are a
substantial market opportunity for
EE improvements. However, this
opportunity remains largely untapped.
The barriers inhibiting SME
investments in EE include lack of
trust between the different actors
and perceived high risks on energy
savings. Decision-makers are price
sensitive, especially in SMEs, which
are faced with competing investment
needs and opportunities, combined
with limited financial resources
or limited access to credit. These barriers exist despite the benefits of
EE investments, such as the recovery
of their - usually higher - upfront
costs in a short period of time from
energy savings, while also improving
productivity, efficiency and reducing
emissions.
The energy savings insurance
(ESI) model consists of different
mechanisms that aim to drive
demand and motivate SMEs to invest
in EE by reducing the perceived
technical and financial risks and
creating trust between key actors,
including technology providers,
enterprises, and financial institutions.
The insurance and validation process
of the ESI model are designed to
be standardised allowing it to be
affordable to SMEs.
The ESI model concept was
developed and led by the Inter-American Development Bank (IDB)
and the Basel Agency for Sustainable
Energy (BASE), with on-going
projects in seven countries. ESI was
recognised by the Global Innovation
Lab for Climate Finance as one of
the most promising instruments to
mobilise private sector investments
in EE and also features in the G20 EE
Investment Toolkit.
The ESI Europe project
The ESI model is being implemented
in Italy, Portugal and Spain, by BASE
in Switzerland, the Italian Federation
for Energy Efficiency (FIRE), the
Business Council for Sustainable
Development in Portugal, and Centro
Tecnológico EnergyLab in Spain with
funding from the EU's Horizon 2020
research and innovation programme.
The ESI model elements have been
developed and are available in the
three countries.
In 2020, the project team will be
supporting local technology providers
and SMEs to build a pipeline of EE
projects. An ESI Europe Toolkit and
ESI webinars are being prepared
for the second semester of 2020 to
support broader uptake of the model
across Europe. GoSafe with ESI is the
commercial brand of the ESI Europe
project.
Find out more:
www.esi-europe.org and www.gosafe-esi.com
https://www.linkedin.com/company/gosafe-esi/
https://twitter.com/GoSafewithESI
Contact Information:
Livia Miethke Morais
Email: info@esi-europe.org
BASE Basel Agency for Sustainable Energy
Elisabethenstrasse 22, 4051 Basel, Switzerland
Inter-American Development Bank. Latin American and Caribbean Green Financing (LGF) – Energy Savings Insurance Program. Available at:
https://www.greenfinancelac.org/our-initiatives/esi/
2. Innovation Lab for Climate Finance. Energy Savings Insurance – The Lab: Driving Sustainable Investment. Available at:
https://www.climatefinancelab.org/project/insurance-for-energy-savings/
3. G20 Energy Effi ciency Finance Task Group. G20 Energy Effi ciency Investment Toolkit. (2017). Available at: https://www.unepfi.org/wordpress/wp-content/uploads/2017/05/G20-EE-Toolkit.pdf