Improving the energy efficiency of homes in Italy: the state of the art and some considerations for public intervention

Guido de Blasio, Roberta Fiori (), Luciano Lavecchia, Michele Loberto, Valentina Michelangeli, Elena Padovani (), Elena Pisano (), Maria Lisa Rodano (), Giacomo Roma, Tiziana Rosolin () and Pietro Tommasino
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Roberta Fiori: Bank of Italy
Elena Padovani: Bank of Italy
Elena Pisano: Bank of Italy
Maria Lisa Rodano: Bank of Italy
Tiziana Rosolin: Bank of Italy

No 845, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: The European energy efficiency (EE) regulations for housing impose significant obligations on households within a limited time frame. This paper describes the background to the regulatory framework, housing and occupants' characteristics, the economic literature on the costs and benefits of EE investment, and the role of the public sector, financial intermediaries and the private sector. Some considerations for designing measures aimed at increasing investments in EE are then proposed. A critical issue is the poor availability of data on housing energy efficiency, energy consumption and past incentive measures, which would need to be improved to both develop market solutions (the contribution of banks and the private sector to EE investment) and correctly design public policy measures. In addition, in light of public finance constraints, public intervention should focus on less well-off households, which are more likely to live in inefficient housing and to be subject to liquidity constraints, and concentrate on the measures best suited to improving energy efficiency. Our findings also suggest supplementing tax incentives with other instruments and providing adequate and reliable coverage.

Keywords: energy efficiency; buildings; environmental policy; energy poverty; EPC; energy performance certificates; tax incentives; public expenditure (search for similar items in EconPapers)
JEL-codes: Q4 Q5 (search for similar items in EconPapers)
Date: 2024-04
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Citations: View citations in EconPapers (1)

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