3.3.1 Start of renovation wave

The weighted annual energy renovation rate in the EU is only around 1%, with deep renovations only being carried out in 0.2% of the building stock annually. The renovation wave in Europe will start with the announcement of the Renovation Wave for Europe by the European Commission in October 2020.

The average annual weighted energy renovation rate for buildings (residential and non-residential) in the EU is only between 1% and 1.5%, with mostly step-by-step152 renovations focusing on cost- effective measures and only a limited share of deep renovation (0.2%).¹⁴⁴, ¹⁵³ The depth of renovation defines how extensive the renovation is and what the achieved primary energy savings are; this ranges from blow threshold to deep renovations (above 60% primary energy savings) as defined by a study by Ipsos and Navigant.¹⁵⁴

To accelerate carbon emissions reduction in the building sector, the European Commission announced its Renovation Wave for Europe.¹⁴⁴ The goal of the Renovation Wave is to achieve a doubling of the annual renovation rates in Europe by 2030, for both residential and non-residential building stock. Deep energy renovations will also be stimulated. The Renovation Wave aims to lead to the renovation of 35 million buildings in the EU by 2030. The European Commission also specifies that an increased rate and depth of renovation needs to be maintained post-2030 to achieve EU climate neutrality by 2050.