Energy Service Company for energy efficiency
Sun Energy Baltic Ltd is an energy service company (ESCO) that offers long-term contracts (20 years) for renovation of residential buildings.
They invest their own funds, combined with loans and subsidies, in wide-ranging modernization and conservation of buildings. The company earns its money back by lowering buildings’ energy consumption.
Sun Energy Baltic takes on all the technical and financial risks, liabilities and responsibilities needed to achieve savings. This includes repayment of loans and maintenance for a 20 year period of everything they have changed or improved.
Customers receive a thoroughly renovated and modernized building, protected from the damaging effects of rain, ice and sun, with comfortable and guaranteed indoor temperatures and low maintenance costs.
During the contract period flat-owners pay for the same amount of energy as before the renovation. The money/energy saved by the renovation goes to Sun Energy Baltic to repay their investment and provide a profit for their work and risk.
Energy efficiency in the housing sector is a priority in Latvia. The Latvian Ministry of Economics launched a programme in 2009 for improving energy efficiency in multifamily residential buildings. The programme is financed by Structural Funds, with a total budget of €63m. The programme covers up to 50% of investment costs in energy efficiency measures.
Renovation and implementation of energy efficiency measures in buildings is a complex and interdisciplinary process, which requires detailed planning, engineering studies, and strict supervision. All of this is extremely important for achieving expected levels of energy savings.
Projects implemented by the private initiatives of house owners have typically reached 30% to 35% energy savings.
Projects implemented by Sun Energy Baltic have achieved over 50% energy saving. ESCO’s approach ensures quality of construction works, well programmed maintenance and strict monitoring and targeting practices.
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