Energy Efficiency Measures in the Spanish Hotel & Tourism Industry

The European Union faces a number of challenges arising from its dependence on energy imports, scarcity of energy resources, and effects of climate change. Energy efficiency (EE) has been identified as universal and cost-effective means to address all these. In order to reach the EU’s 20 per cent energy efficiency target by 2020, the Energy Efficiency Directive (Directive 2012/27/EU) has been adopted, binding member states to a set of specific measures and policies, including development of National Energy Efficiency Action Plans (NEEAPs). Here, priority areas are to be identified, concrete national goals and objectives set, and appropriate policies and measures developed.

To assist the member states in reaching these goals, the European Investment Bank (EIB) and the European Commission developed under their LIFE programme a joint financial instrument Private Fund for Energy Efficiency (PF4EE). It considers energy efficiency lending a distinct market sector and aims to make it a more sustainable activity by providing adequate and affordable commercial funding. It consists of three elements – a risk sharing facility, long term financing provided by the EIB, and expert support facilities for the financial intermediaries.

In the framework of PF4EE, Spain’s Banco Santander is setting up a loan scheme targeting EE investments in the hotel and tourism sector, which focuses on energy renovations of existing buildings and facilities. As this is a relatively new type of financial product, Santander is faced with a set of very specific questions: Which are the typical EE investments in the hotel industry that are eligible for funding under the PF4EE programme? What are the financial and technical characteristics of these measures? Which clients are suitable for these loans? How to approach them and how to market the PF4EE instrument?

This technical assistance manual provides information on investments, energy saving potentials and payback periods for a wide spectrum of applicable EE technologies. It further offers guidelines for determining the most suitable technologies for individual projects, as well as an overview of technologies’ state-of-the-art. It is intended to assist Banco Santander’s field officers with project-to-project decisionmaking.