|Policy status:||In Force|
|Policy Type:||Economic Instruments|
|Energy Efficiency Policy Targets:||Buildings, Existing buildings|
|Energy Efficiency Description:|
Lithuanian Government established the JESSICA Holding Fund to offer an attractive financing scheme to support the improvement of energy efficiency in multi-apartment buildings, which were built prior 1993. At a later stage the scheme was extended to cover student dormitories and other buildings under the jurisdiction of the Ministry of Education and Science.
JESSICA loan (maturity up to 20 years at fixed annual interest rate of 3 %) is offered to the owners of apartments or other premises in a multi-apartment buildings, provided they commit themselves to implement energy efficiency measures which would result in (i) achieving at least 20 % of energy savings as compared to the baseline and (ii) meeting at least the energy efficiency Class D requirements. If these targets are met, the beneficiaries qualify for a “bonus” – an interest subsidy which equals to 15 % of loan principal. At the end of 2011 the Lithuanian Parliament introduced an additional incentive to compensate additional 15 % of investment cost, provided the overall calculated energy savings reach at least 30 % as compared to the baseline (the Law on the State Support for the Acquisition or Rent of housing and for the Modernization of multifamily buildings of the Republic of Lithuania amended on the 11th of October, 2011).
Currently the additional improvement of this program is introduced. By the amendments of the Law on support for buying or renting dwellings given by the Government of the Republic of Lithuania, adopted on 17 January 2013, the municipalities are more involved in the renovation process of the multi-apartment buildings. The municipality appoints one responsible entity which may take the loan for renovation on preferential conditions. With these changes the additional incentives to compensate investment cost to citizens were introduced, the 15 % of loan is compensated from State‘s budged and 25% from the Special Programme for Climate Change if the 40% of energy saving was reached compared with baseline.
From 2013 till 2015 207 multi-apartments have already been renovated (in 2005 – 2012 were renovated 479), at present 1093 are under renovation and investment plans of 3 489 projects are being coordinated.
Last modified: Tue, 18 Aug 2015 14:48:03 CEST