The end of the 110% Superbonus has left many Italians with mixed feelings. While some taxpayers have had the opportunity to benefit from the tax advantages and have seen a true transformation of their properties (here is a brief overview of the energy efficiency experience through 110% carried out by BBA-Architetti), others have been disappointed (or worse in many cases, as we know), unable to access such benefits due to restrictions or limitations. This has led to a sense of injustice and growing distrust in public policies.
It is in this climate of anger and uncertainty, at least on the national scene, that the European EPBD (Energy Performance of Buildings Directive) regulations are emerging with their announcements of strict and mandatory standards for the energy refurbishment of residential condominium buildings.
While understanding the widespread sentiments among property owners, it should never be forgotten that the energy refurbishment of residential buildings offers numerous benefits, certainly on an environmental level (which is the focus of the EPBD regulations) but also and especially on an economic level for the owner themselves.
Let’s delve into the benefits of the energy refurbishment process, including the reduction of energy consumption, the decrease in CO2 emissions, savings on energy bills, and the increase in the real estate value of buildings and apartments themselves. You will discover how a targeted investment in energy refurbishment can lead to a sustainable future and financial benefits in the short and long term.
One of the main benefits of energy refurbishment is the significant reduction in energy consumption and CO2 emissions. Through the implementation of energy efficiency solutions, such as thermal insulation, optimization of heating and cooling systems, use of low-energy consumption technologies, and implementation of renewable energy solutions, it is possible to significantly reduce the amount of energy required for building operations and limit CO2 emissions into the atmosphere. While the reduction in CO2 might not be (immediately) perceptible or translatable into economic terms for the individual, the significant savings on energy bills certainly are: over 50% annually.
Another substantial and implicit aspect of the energy refurbishment of a property, which is often underestimated by owners concerned primarily about the cost, is the increase in real estate value. The energy refurbishment of residential buildings leads to a considerable and immediate increase in their market value (estimated at +15%-20% compared to an inefficient property); soon, and also as a consequence of the EPBD regulations, banks will be more willing to provide mortgages for buildings with good energy ratings. This means that buyers will be increasingly interested in sustainable, low-energy consumption buildings. Even now, tenants are willing to pay more for renting a property that guarantees an acceptable expense in bills due to its energy efficiency.
However, let’s get to the sore point: how to cover the costs of energy refurbishment? The hype around the “zero” cost of the 110%, among the various unpleasant consequences we know of, has also overshadowed the awareness that generous energy bonuses (Ecobonus) still exist in Italy for properties, reaching up to 75% for condominiums. On average, with an expenditure ranging between €30,000 and €40,000 per person, a medium-sized property can be made energy-efficient; the more condominium units, the lower the cost. 75% of the expense is refunded over 10 years by the State to the citizen who carried out the work. This means that, currently, and as long as the Ecobonus exists as we know it today, the cost for the energy refurbishment of a condominium property per condominium unit is between €7,500 and €10,000. Not bad…
BBA-Architetti offers specific services to achieve the energy efficiency goals of condominiums, enjoying all the benefits that come with it, leveraging the existing tax benefits. Contact us for more information!
