Although Luxembourg residents consider renovating their homes to be a major driving force in the fight against climate change, such work is often hindered by common misconceptions… which need to be corrected.
For residents of Luxembourg, energy retrofitting is a major driving force in the fight against climate change. This is revealed by the results of a European survey conducted by the BNP Paribas Group, in collaboration with Toluna Harris Interactive, of 11,700 Europeans in eight countries, including 700 Luxembourg residents. The survey also indicates that there are certain issues surrounding respondents’ perceptions, including misconceptions that should be challenged.
77% of Luxembourg respondents believe that using certified tradespeople to carry out energy retrofitting projects is a requirement. However, while certifications are a guarantee of quality, they are not mandatory. “Luxembourg has a network of skilled tradespeople, both certified and otherwise. The important thing is to call on the opinion of a reliable partner who will execute the job well”, says Marie Delhaye, Head of ESG Projects at BGL BNP Paribas.
58% of respondents believe that it is better to purchase a property with a high energy rating than to invest in energy retrofitting. If it is a viable option, undertaking retrofitting work allows you to adapt the property to your needs and benefit from energy savings, while taking advantage of government subsidies in this area. “Retrofitting allows you to preserve the value of your property over time, while adapting it to your situation”, explains Marie Delhaye.
60% of respondents in Luxembourg believe that only very substantial retrofitting can lead to real savings. In reality, targeted measures – such as insulating attics, installing efficient heating systems, etc. – can already produce significant results. “If we were to wait until all the conditions are right for a comprehensive retrofitting project, we would never get anything done. Every action counts”, emphasises Marie Delhaye.
These misconceptions often hinder the implementation of energy retrofitting projects. Many households are reluctant to take the plunge, as the process appears too restrictive or costly.
To encourage strong uptake of energy retrofitting, it is essential to correct these misconceptions. “Our mission is to deconstruct the beliefs that hold people back and show that renovation can be done in stages, with appropriate support”, says Marie Delhaye.
It is with this in mind that the bank promotes its dedicated financing solutions, as well as the expertise of its advisers and partners. Among the financing solutions available, the climate loan, thanks to an interest subsidy from the Luxembourg government (subject to eligibility conditions), offers advantageous financing terms for renovations such as insulation, the installation of an efficient heating system or solar panels, etc.
With a view to providing their clients with the best possible support, the bank’s advisers have been trained in climate issues and in understanding energy performance certificates (EPCs). They can also refer clients to specialist partners to facilitate project implementation.
