In Switzerland, buildings account for 44% of final energy demand, with an equal share of CO₂ emissions. Decarbonizing the building sector is one of the key focuses of the Swiss Energy Strategy.

Building energy codes set minimum energy performance requirements for new buildings and retrofits, with the latter less stringent. Yet in Switzerland 1.5 million (of 3.8 million) buildings are in need of retrofitting to meet current standards yet the current retrofit rate is 1% a year. This implies that many of energy-inefficient buildings today will still be standing in 2050, deeming it highly challenging to meet the Swiss climate goals.

The main barriers for private homeowners to renovate are attributed to the split incentive problem for landlords and tenants, the high upfront costs of energy-efficiency investments, among others. Regulations can drive retrofits by setting requirements for when to renovate and the depth of the retrofit (refurbishment or deep energy retrofit). This regulatory trade-off between stringency (depth) & incentives (speed) of retrofits will be key moving forward.

Additionally, it is important to point out that in the Swiss real estate market, large-scale investors hold the large share of annual building investments (56%) and will play a significant role in increasing the retrofitting rate. Yet these companies also need to strike a balance between the high capital costs of retrofits and the additional value of their property post-retrofit and the lower risks from future regulatory changes.

Technologically, the solutions are available, yet implementation and policy is lagging.

– What can building owners and occupants do to implement sustainable renovations?

– How can policymakers accelerate sustainable renovations while taking into account affordability issues (green gentrification)?

– How can large-scale investors plan their retrofit activities to optimize for value and climate goals?

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