SmartSPIN: know more about the project!
SMARTSPIN TOWARDS MORE RELIABLE AND TRANSPARENT SERVICES IN EUROPE
In Europe, buildings account for 40% of energy consumption and 36% of the generated carbon emissions. According to latest studies, 75% of all buildings in the European Union are energy inefficient, and only 1% of them are renovated each year. In addition, around 25% of Europe’s buildings are non-residential. buildings, which are often owned by a commercial landlord who rents and/or leases all or just parts of the building to one or more tenants. In this context, one of the key market barriers to energy efficient building renovations is the split incentive problem, where the benefits of energy efficiency investment do not accrue to the actor who pays for the investment. In rented buildings this issue arises between tenants and landlords. Introducing a new way of sharing costs and benefits between the involved parties, the project aims at removing the current market barriers for integrating smart energy efficiency services in the commercial rented sector. After defining the service, practical experience with it will be gained through test demonstrations and data analysis of three real case studies in Spain, Greece, and Ireland – exploring how smart energy services can be deployed as an effective business model practice in Europe.
SmartSPIN is expected to generate unique know-how, providing clear positive business and societal impacts. By using the project methodology, the three pilot sites are expected to generate 4.53 GWh/year energy savings through the improvement of the existing building systems and installations of solar photovoltaics. As a result, 941tCO2 per year will be reduced. Additionally, SmartSPIN is to trigger €8.27 million investments in sustainable energy. Above all, the project will create a more reliable and verifiable innovative energy service, and will demonstrate the trustworthiness and accessibility of service providers.
