Italy’s celebrated building renovation scheme hits a snag

(EurActiv, 12 Apr 2021) Last year, Italy launched an unprecedented plan allowing homeowners to finance 110% of energy efficiency renovation works through tax deductions. Almost one year on, the widely celebrated scheme is hitting snags related to mounting costs and bureaucracy.

The European Union has promoted building renovation as a way for EU countries to kick-start their economies after the pandemic while taking action to fight climate change.

Building renovation programmes are now being promoted at the EU level as part of national plans that EU countries are submitting to the European Commission in order to tap into the bloc’s €750 billion recovery fund.

“What we need is an economic growth which is sustainable for our planet,” said Riccardo Fraccaro, the Italian lawmaker and minister who promoted the scheme under Giuseppe Conte’s first government.

“The Superbonus creates new jobs and reduces emissions at the same time,” the Five Star MP told EURACTIV.

Italy’s building renovation plan was launched in May 2020 as part of the country’s “Relaunch Decree”, a series of tax incentives to boost the economy after the COVID crisis. Under the scheme, homeowners can claim refund for 110% of the costs of building renovation works through fiscal deductions.

External link

EurActiv, 12 Apr 2021: Italy’s celebrated building renovation scheme hits a snag