To date, the MoREEFF facility has committed to 1,800 energy efficiency projects for the total loan amount of €6.4 million.
The financed projects are saving 14,133 MWh per year, which is enough energy to heat water for over 706 million cups of tea or enough to drive a car over 21 million kilometres.
These projects generate the reduction of 3,208 tonnes of CO2 emissions per year, which is equivalent to the amount of CO2 annually absorbed by a forest of 118 819 trees.
The borrowers, who successfully implemented their energy saving projects, received the total of €1.8 million of incentive grants provided by the European Union Neighbourhood Investment Fund (NIF).
Most of investments targeted installation of the energy efficient windows, efficient gas boilers for heating, thermal insulation of houses.
Among the renewable energy applications for residential purposes, the leaders were the heat pump systems, followed by the solar water heating systems.
Such residential investments not only stimulate people to improve their quality of life, but nurture the culture of wise and careful attitude to environment and its resources. They save not only the families budgets, but also the country’s demand for energy resources.
This way, the EBRD and MoREEFF support the sustainable financing and implementation of energy efficiency and renewable energy projects by the residential sector in Moldova. Together, the residential, private, and public sectors can make a change in the energy consumption patterns and contribute to environmental protection.