It's unfortunate that it took a pandemic to see something so obvious. Energy efficiency is the Cinderella of climate solutions: virtuous and unassuming, but too often overlooked. Most people focus on her glamorous siblings – renewables and electric vehicles. Is it finally time for her glass slipper moment?
The EU calls it the Renovation Wave, one of the central pillars of the European Green Deal. The ambition is to massively accelerate the rate of improvements to private and public sector buildings: going faster and deeper than ever before, in an effort to support the economic recovery from Covid-19.
This is because energy efficiency is a jobs machine, making it one of the most attractive forms of economic stimulus. According to recent estimates from McKinsey, €1 invested today will add over €2 of value for a large European economy. Governments can double their money.