Energy Efficiency
What is Energy Efficiency?
Below you will find some definitions of the concept of “Energy Efficiency “:
- “Energy Efficiency” means the percent of energy output to energy input in the same energy system, which in our case is building. This is its theoretical definition
- Simply stated that “Energy Efficiency” would be when using less energy in a process to achieve the same results. Excess energy in this case is the energy savings from measures to reduce the amount of the energy used in this process.
Benefits of Energy Efficiency Investments
Among the many arguments in favor of improving energy efficiency, one of the foremost is its key role in climate change mitigation. Indeed, improving energy efficiency is now seen as the most important strategy to achieve greenhouse gas (GHG) emission reductions that are necessary to stabilize the global climate system, because improving energy efficiency is particularly cost-effective and can be achieved rapidly.
Besides the need to mitigate climate change, there are numerous other strong arguments in favor of scaling up energy efficiency, especially the following ones:
- Lower energy costs that will lead to lower energy bills for residential. Save energy and money for the life-cycle costs for consumers.
- Increase comfort and quality of consumer’s life.
- Increase the building usage life and the value of the building.
- Contribution to environmental protection and reduction of polluting emissions into the environment
- Improved supply security, e.g. by reducing (national, regional) dependency on energy imports
- Improved competitiveness, resulting from lower energy costs and technology innovations
- Improvement in all key indicators such as GDP, direct climate-related and induced investments, consumption and employment
Practical rules of efficient use of Energy
Energy efficiency, therefore, describes the ratio between the benefit gained and the energy used. From an economic point of view, energy efficiency can thus be described as the marginal productivity of energy input, i.e. it specifies how much energy input is needed to produce a certain level of output (e.g., heat, light, motion, and comfort).
Control heating/cooling: Try to reduce heating temperatures in the winter by one degree, as this can cut heating bill by 8 %. Conversely, in summer increase the set point for your air conditioning, as lower too much the temperature will enforce the air conditioning to consume more energy still not reaching to the desired cooling level.
Avoid wasting heat: Keep doors and windows closed when heating or air conditioning is running.
Utilizing the efficient cookers saves more than 30% of the amount of firewood needed.
Minimize artificial lighting: By keeping windows and skylights clean, you can cut the amount you spend on lighting. If you are working on one part of a room, isolate the lights to that area only. Lighting an empty room overnight can waste enough energy to make 1000 cups of tea.
Switch off the equipments: TVs, DVDs, and video machines left on “stand by” continue to use at least half of the amount of electricity they consume when they are turned on. Leaving a computer monitor on overnight wastes as much energy as making 800 A4 photocopies.
- When the telephone charge is left connected to electricity power, even though the telephone is taken away, it consumes 95% of the energy used for charging the telephone, because the charger still consumes energy even though not connected to the charger.
- If all the equipments are properly switched off when you leave the office, then enough energy is saved to run a small car up to 160 km.
Micro-oven consumes less than the normal oven (one third), and the food values are preserved as they are cooked faster and in a shorter time period.
Paint the walls of your home a light color: Dark colors tend to absorb light requiring you to use more energy from light bulbs to achieve the same effect.
Replace the standards bulbs with efficient bulbs: (consume around ¼ of the energy amount and have a life maturity 10 times longer). Using an efficient electric lamp saves energy up to 80%.
Set the boiler temperature level at 40-50 degree Celsius during summer and operate it as long as the water heating process is fulfilled: This will result up to 10%-15% savings in energy consumption.
Replace the normal boiler with solar panels: Using a solar panel with 3-4 sq.m surfaces installed on the terrace / roof of the building, for sanitary water heating, saves more than 60% of the energy used for this purpose.
Energy Efficiency measures/investment
Measure to increase the efficiency of energy in housing buildings:
Energy Efficiency Loan
Energy Efficiency Loan
Purpose – The “Energy Efficiency” loan finances investments in homes, buildings and business premises, aiming to an efficient use of energy and an increase of electricity savings. “Energy Efficiency” loans will support families / businesses to sustainable reduce their electricity costs.
Who receives this loan? – All customers with income from wages, business can benefit “Energy Efficiency” loans, as long as they fulfill the eligibility criteria to be financed by the Bank.
Advantages of the “Energy Efficiency” investment
- Decreases energy consumption
- Saves money
- Improves living/working standards
- Helps protect the environment
Main phases /steps involved in getting an “Energy Efficiency” loan for home improvement
The “Energy Efficiency” loan application process consists of the following phases:
The required documents the customer needs to provide to the Bank, to be considered for an Energy Efficiency loan for home improvement
This is a list of most important required documents for an Energy Efficiency Loan application by the Bank:
- Investment plan (energy efficiency investment referring to the eligibility list)
- Copy if ID (passport, identity card)
- Family certificate
- Domicile letter for customer and surety/guarantor (if any)
- Employment certification for customer and surety (if any) stating the salary amount, employment starting date etc (if possible a bank statement may be attached)
If incomes are not from salary, please refer to as following:
Terms and Conditions
Specific terms and conditions for Energy Efficiency loans for home improvement
ABOUT THIS PAGE
This page was prepared from International Finance Corporation under Energy Efficiency Project in Albania with the sole purpose to inform and educate the general public in regards to Energy Efficiency and Energy Efficiency Finance. In particular, this site will help people in better understanding:
- Energy Efficiency (definition, benefits, practical rules, Energy Efficiency measures /investments), and
- Energy Efficiency loan (main steps, procedures, documents required, costs involved, terms and conditions of the loan)
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This website does not claim to serve as an exhaustive presentation of the issues discussed herein, and should not be used as a basis for making commercial decisions. Please approach independent legal counsel for expert advice on all legal issues.
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© 2012 International Finance Corporation
ANNOUNCEMENTS
SUPPLIERS
List of products and companies that offer energy efficiency measures in housing, provided only for information purposes.
The list is just a collection of names of companies with data that they themselves have introduced / announced, and does not imply a recommendation by the IFC. Companies in this list are not accredited or qualified by IFC for the quality of products. IFC does not take any liability for the authenticity or accuracy and compliance of the information presented in this document.
Here you can download the List of EE Products and Supplier:
INVESTMENT EXAMPLES
FINANCIAL INSTITUTIONS
Financial Institutions where you can apply for Energy Efficiency Loan
- Banka ProCredit
- Fondi Besa
- Banka Credins
- NOA
- Banka Societe General
- Union Bank