A GEFF loan has helped a family in Bosnia and Herzegovina create a warmer home and switch to a modern heating technology that will reduce their energy bills and support more comfortable living during the winter months.
Bojana Lalović lives with her husband and 10-year-old daughter in a 140 m2 house that was built a decade ago. Before applying for a GEFF loan, Lalović family burned wood and coal to heat their home. Last winter they decided to replace it with a new biomass boiler (Commo 21 pellet boiler), which includes a water boiler and is connected to the central heating system within the house. The new pellet boiler is significantly more energy efficient than the previous heating system.
The GEFF Team conducted an analysis of the biomass boiler, estimated its potential to save energy and assessed its financial and technical parameters, as well as its profitability.
The family invested €1,360 in the new heating system and received an incentive of around €200 by the EU. The resulting reduction in energy consumption is expected to be around 1.06 MWh per year, with CO2 emissions reductions of almost half a tonne per year. The family will be able to repay the investment fromenergy cost savings in 2 years, while also generating additional income to the household for the years to come.
Apart from keeping their home warm, the Lalović family now has more disposable income resulting from reduced heating costs. The market value of the house is increased as well, and the house looks more attractive now.
“We are very satisfied with the new technology. Our home is warmer and feels cosy. We are also enjoying significant cost savings of up to 30% per year. The system takes much less time to maintain and to use,” said Bojana Lalović.
The Green Economy Financing Facility (GEFF) in the Western Balkans is developed by the European Bank for Reconstruction and Development (EBRD), supported by the European Union (EU), the Austrian Federal Ministry of Finance (BMF) and the Western Balkans Investment Framework (WBIF) and in cooperation with the Energy Community Secretariat.