The Kosovo Sustainable Energy Project (KoSEP), a European Bank of Reconstruction and Development (EBRD) credit line, is enabling 3,100 households to cut their energy bills and enjoy more comfort at home through energy efficiency refurbishments.
The energy efficiency initiative, supported by Norway and the European Union, encourages homeowners to take the necessary steps toward home improvement by providing a one-stop-shop for lending through two local commercial banks and two micro financial institutions.
Energy efficient technology improvements
The improvements include insulation of “building envelopes” (outside walls, roofs and floors), efficient windows and external doors. Also for buying energy-efficient washing machines, refrigerators, new boilers and solar power and biomass renewable energy equipment.
KoSEP also encouraged energy-saving refurbishments in multi-story buildings, which requires agreement among residents of the whole building for borrowing funds.
Ian Smith, EBRD head of sustainable energy financing facilities, said: “This very successful credit line helped achieve energy savings totaling over 25,000 MWh/y, enough to supply 5,000 Kosovar households with electricity for a whole year.
“KoSEP’s energy savings achieved by the end of May 2017 equal almost 12% of Kosovo’s total energy-saving targets for the residential and service sectors.”