France announces more financing for energy renovations

(EurActiv, 10 Jul 2023) French Prime Minister Elisabeth Borne announced on Sunday (9 July) that the government would release an additional €7 billion from 2024 to finance the green transition, part of which will be allocated to energy renovations.

The new measure follows the publication of a Senate report on Wednesday (5 July), which highlighted the lack of public incentives to increase the rate of building renovations to boost energy efficiency.

In France, the building sector represents around 48% of all energy consumed and about 28% of greenhouse gas emissions, compared to 40% and 36% at the EU level.

The need to decarbonise the sector is, therefore, more urgent than ever, and is even the subject of a “political consensus”, according to the Senate report.

In response, Prime Minister Elisabeth Borne announced on Sunday (9 July) that the government will provide an additional €7 billion a year in public funding as of next year to finance the energy transition.

Among other things, this money will be allocated to speeding up the energy renovation of buildings, Borne said.

The current rate of renovation in France ranges between 50,000 and 100,000 buildings per year. In its report, the Senate proposed to achieve 370,000 fully renovated homes per year by 2030 before doubling the pace to 700,000 per year.

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EurActiv, 10 Jul 2023: France announces more financing for energy renovations