Sustainable renovation opens doors for companies which facilitate energy and water efficiency
Sustainable renovation is on the increase. Together we are insulating vast numbers of roofs, walls and floors. We are increasingly generating our own electricity and providing our own water supply. Is all this responsible renovation also kinder to your wallet? And what kinds of business are sharing in the success of this renovation trend? A conversation on these points and more with Anthony Sandra, Portfolio Manager at KBC Asset Management.
Payback period for energy renovations becoming shorter
According to figures released by the Flemish Energy Minister, Zuhal Demir, many of us are securing grants to help fund renovation projects. More than 100 000 homeowners have applied since the launch of MyRenovationGrant, a one-stop-shop for applying for these grants. That was double the expected number of applications, demonstrating that sustainable renovation is on the rise.
The rationale is clear. First of all, open space is scarce. People who want to live sustainably often prefer renovation to a new-build home, which means that they do not take up any new space. There is also the government's ambition for all houses and flats to achieve an EPC (Energy Performance Certificate) ‘A’ rating by 2050. For owners of homes with a lower EPC rating, this ambition translates into an obligation to make their home more energy-efficient. The high gas and electricity prices in 2022 and early 2023 were also an important factor in prompting people to renovate their homes.