Energy Efficiency Fund
The Energy Efficiency Fund is a government institution providing instruments for thermal innovations in multi-family buildings where homeowners associations were established (HOA).
The Fund provides support in the form of grants to homeowners associations and comprehensive technical solutions for energy-efficiency renovations in multi-family buildings in line with the best European practices. Once implemented, these solutions will not only enable multi-family building co-owners to save on their utility bills, but to also increase their standard of living. The Fund’s activities are funded from the State Budget of Ukraine and financial support from the EU and German government.
The Energy Efficiency Fund Program is implemented in cooperation with the International Finance Corporation (IFC), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the United Nations Development Program (UNDP).
If your building has formed a homeowners association, you may use the opportunities offered via the Energy Efficiency Fund Program.
What are advantages of cooperation with the Energy Efficiency Fund?
Partial compensation of expenses
An HOA may receive partial compensation for energy efficiency measures in the building under the Fund Program.
Advantages of the Fund Program
The Fund offers a systemic approach to thermal renovation. Compensation of expenses extends to materials, equipment and work costs. Obligatory energy audits will identify the measures that are feasible in any specific building.
Expert advice and technical support
Established network of regional consultants (IFC and UNDP) will continuously support HOAs in the organization and implementation of thermal renovation projects, as well as supporting buildings where an HOA has yet to be established.
Who can participate in the Energy Efficiency Fund Program?
Homeowners associations of multi-apartment buildings (HOAs) are entitled to receive partial compensation of project expenses (i.e. grants) under the terms of the Program.
To participate, a HOA must hold a general meeting and adopt a decision on implementation of the project according to Program rules.
If there is no HOA in your building, we suggest using the opportunities provided by the EU/UNDP “HOUSES” Project.
Why is it worth submitting an application to the Energy Efficiency Fund?
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Significant savings on communal services Implementation of energy efficiency measures in a multi-apartment building will allow savings on communal bills due to reduction of heat losses in the building by 20%-70%.
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Partial compensation of expenses for energy efficiency measures The Fund Program allows HOAs to receive partial compensation of expenses for energy efficiency measures in the building. Compensation is according to one of two packages with mandatory and additional lists of thermal renovation measures.
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HOA is our only client According to the Law "On the Energy Efficiency Fund" and the financial agreements concluded between Ukraine and the EU in 2018, the Fund is currently implementing the Program exclusively for buildings with HOAs.
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Energy audit is your energy efficiency vector. An energy audit of the building as a mandatory condition for submitting an HOA application for participation in the Fund Program makes it possible to implement the energy efficiency measures that are most effective and beneficial for homeowners.
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Clear and transparent steps towards receiving a grant The Fund Program envisages a clear and comprehensible interaction procedure "HOA - Partner Bank - Energy Efficiency Fund".
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Increased value of real estate and improved living conditions Implemented energy efficiency measures result in increased value of real estate, improved building exterior, extended useful life of the building, and most importantly, improved comfort and living conditions for residents of the building.
What steps should be taken by HOA
In order for HOA to receive a grant from the EEF, it should follow a 6-step process as depicted on the illustration, which could take from 8 to 12 months depending on the Package selected.
• Defining and discussing the project concept
• Decision to conduct the energy audit of the building
Expected timeframe ~1 month
2. Defining the EE measures to be implemented
3. Holding the HOA general meeting to approve key parameters of the project
1-2 month
• Submitting the application to EEF via partner bank
• Review of application by EEF
• Signing the grant agreement
• Partial reimbursement of the energy audit costs
~1 month
• Selecting the design engineer and project design preparation
• Expertise of project design
• Partial reimbursement of project design and expertise costs
~2 month
• Selecting construction company and technical supervisor
• Construction works
~1-2 months for Package A, ~2-6 months for Package B
• Preparation of energy performance certificate
• On site verification of completed works (selectively)
• Partial reimbursement of renovation works costs (final grant)
~1 month
In order for HOA to receive a grant from the EEF, it should follow a 6-step process as depicted on the illustration, which could take from 8 to 12 months depending on the Package selected.
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