As part of its Green Deal, the European Commission published on 14 October 2020 a new strategy to boost renovation called “A Renovation Wave for Europe – Greening our buildings, creating jobs, improving lives”. The renovation wave aims to double annual energy renovation rates in the next ten years. These renovations will enhance the quality of life for people living in and using the buildings, reduce Europe’s greenhouse gas emissions, and create up to 160,000 additional green jobs in the construction sector. The strategy aims to unlock the renovation of 35 million inefficient buildings by 2030 and gives specific attention to decarbonising heating and cooling. As stated by the European Heat Pump Association (EHPA), each renovated building is now becoming a heat pump candidate.
On 5 October, the European Parliament has also adopted the new EU rules for crowdfunding platforms under the European Crowdfunding Service Provider regime (ECSP). From 20 October 2021, the European regulation on crowdfunding will enable SMEs and start-ups all across Europe to raise up to €5 million.
Both policy reforms have a big potential for the empowerment of citizens to set up their own geothermal energy projects and can thus help to boost CROWDTHERMAL’s endeavours.