Social Energy Renovations (SER)

🔍 Publication #4: Unveiling the Energy Efficiency Potential of Bulgaria’s Social Service Buildings Imagine walking through Bulgaria’s towns and cities—sports facilities buzzing with activity, cultural centers alive with performances, and residential buildings providing care for those in need. These buildings are vital to the social fabric, yet many of them face an uphill battle: aging infrastructure and energy inefficiency. In this fourth post of our SER LinkedIn series, we dive into the findings of a detailed market analysis, uncovering the investment and energy-saving opportunities for these essential spaces. The Challenge: Tracking Energy Savings and Investment Needs Bulgaria currently lacks a centralized registry to track energy savings and renovation investment needs for social service buildings. To bridge this gap, Econoler applied three distinct methodologies to assess the market: 1️⃣ SEDA Database: Examined 3,381 investment-ready projects based on energy audits. While insightful, data limitations leave some gaps in the analysis. 2️⃣ National Recovery and Resilience Plan (NRRP): Focused on 1,287 buildings supported by state or EU funding, covering 100% of renovation costs—but notably excluding energy performance contracts (EPCs). 3️⃣ Long-Term Renovation Strategy (LTRS 2050): Provided broad estimates of investment and energy-saving potential across residential and non-residential buildings. Key Findings The results revealed staggering potential: 💰 Investment Needs: BGN 1.13 billion for 5.2 million m² of social service buildings, including 1.94 million m² of investment-ready buildings. 🏗️ Full Renovation Costs: Could exceed BGN 5.6 billion when accounting for complete refurbishments. Why It Matters Energy efficiency is more than just cost savings—it’s an economic driver. These investments create jobs, stimulate GDP growth, reduce energy imports, and enhance quality of life for communities. The Barriers Yet, the market hasn’t fully taken off. Barriers such as high upfront costs, limited financial instruments, and insufficient policy incentives have slowed progress. The Solution: One-Stop Shops (OSS) Hope is on the horizon with the introduction of One-Stop Shops (OSS) under the NRRP. These innovative financial instruments are designed to: 🔑 Provide access to funding. 🔑 Blend grants, loans, and financial assistance. 🔑 Simplify the renovation process for municipalities. Driving Impact Through the SER Hub At Econoler, we see the potential to leverage OSSs and accelerate the transformation of Bulgaria’s social service buildings. By addressing the financial and technical barriers, the SER Hub can play a pivotal role in driving energy efficiency and maximizing impact across the country.

🔍 Unlocking the Potential of Bulgaria’s Social Service Buildings Imagine a country with thousands of buildings dedicated to nurturing its communities—sports facilities where young athletes dream of greatness, cultural centers that keep traditions alive, and homes offering security to the vulnerable. In Bulgaria, these social service buildings form a vital backbone of society. But behind the scenes lies a challenge: aging infrastructure and untapped energy efficiency potential. In the third post of our SER LinkedIn series, we take a closer look at Bulgaria’s energy efficiency market for these essential buildings. A Market Full of Potential Social services in Bulgaria are largely delivered by municipalities, supported by state budgets and EU funding. Here’s the scope: 🏟 Sports Facilities: 2,174 buildings (1.79M m²) 🎭 Culture and Art Buildings: 2,843 buildings (2.29M m²) 🏠 Residential-Type Social Service Buildings: 1,019 buildings (1.1M m²) But here’s the catch: ➡️ 70% of sports buildings and 58% of cultural buildings were constructed before 1977 under outdated energy codes. ➡️ Post-2005 construction is minimal, leaving an energy-inefficient legacy. ➡️ Most buildings fall short of even Energy Class C, highlighting the need for extensive upgrades. Barriers to Transformation The road to energy efficiency is steep: 💡 Reliance on 100% EU subsidies delays market-driven solutions like energy performance contracts (EPCs). 💡 Limited funds for audits and technical documentation stall project readiness. 💡 Shortages of skilled professionals in energy auditing and construction constrain capacity. 💡 Public borrowing restrictions and incomplete energy data complicate large-scale investment. Even so, opportunities are emerging. A Glimmer of Hope With EU programs such as the National Recovery and Resilience Plan (NRRP) and structural funds, Bulgaria can access grants, concessional loans, and risk-sharing facilities to fuel renovations. Initiatives like One-Stop Shops (OSS) are stepping in to simplify financing and technical support for municipalities. The Way Forward Transforming these buildings isn’t just about energy savings—it’s about creating jobs, enhancing public services, boosting property values, and improving health outcomes. To fully unlock this market, we need: ✔️ Innovative financing models. ✔️ Better data collection and management. ✔️ Policies that foster deeper retrofits and reduce risk perception. The potential is vast, and the rewards are even greater. Let’s reimagine Bulgaria’s social service buildings together.

🌍 Empowering Social Impact through Sustainable Energy Solutions for Third Sector Organizations (TSOs) In the second installment of our series, we’re diving into how social investing is unlocking sustainable finance for energy retrofits in non-profit buildings. The Social Energy Renovations (SER) Hub is committed to transforming Third Sector Organizations (TSOs) by providing tailored solutions for energy efficiency, renewable energy, and electric mobility. Its approach goes beyond traditional energy savings to drive measurable social and environmental impacts, making these projects an attractive opportunity for social impact investors and institutions seeking to align with ESG goals. Through the SEE4Impact methodology, we’re enhancing the appeal of energy retrofits by quantifying the broader social and environmental benefits, helping these organizations attract sustainable financing and bring their transformative projects to life. 💡Why Social Investing Matters for NPOs and TSOs: Social investors are increasingly looking for projects that provide both financial returns and positive social outcomes. The Third Sector is a perfect match for this trend. These organizations reinvest any profits into their mission, focusing on improving communities, driving environmental sustainability, and supporting social causes. By leveraging this growing interest in social impact finance, SER Hub helps NPOs secure the funding they need to implement energy efficiency retrofits and renewable energy solutions, all while making a tangible difference in the communities they serve. ⚡Attracting Social Impact Investors: Through social impact investing, SER Hub helps NPOs access financing options that may have been previously out of reach. SER Hub utilizes SEE4Impact methodology to quantify and communicate the non-energy benefits (NEBs) of energy renovation projects. This impact assessment approach makes projects more attractive to investors who seek measurable ESG outcomes. 💙SEE4Impact: A Game-Changer for Social Impact Investing The SEE4Impact tool is the cornerstone of SER’s approach, providing a standardized and transparent framework for measuring the social, environmental, and economic impact of energy renovations. This allows NPOs to showcase the broader impact of their projects. By using this framework, NPOs can align their projects with the principles of social impact finance and ESG standards, making their energy retrofits more appealing to investors and improving their access to long-term financing. At Econoler, we’re proud to contribute to initiatives like the SER Hub. Together, we’re working toward a future where energy efficiency drives not only cost savings but also meaningful social and environmental progress! 🔗 Explore SER: ser4impact.eu