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Regional Facility for Renewable Energy and Energy Efficiency – Sustainable Energy Finance through KfW Entwicklungsbank

Regional Facility for Renewable Energies and Energy Efficiency: Background

Climate change is omnipresent. Therefore, sustainable energy supply and consumption is high on the political and economical agenda all over the world. In Serbia, CO2 emission (relative to GDP) is more than ten times higher than in the European Union. The country heavily depends on energy imports to cover the demand. This implies a huge potential for energy savings in all sectors of the economy.

As a first determined step, Serbia ratified the Kyoto protocol in 2007, thereby showing commitment fighting the greenhouse effect and its far-reaching consequences. Moreover, Serbia is expected to introduce a new legislation to support the development of renewable energy. The next and even more important step is to suit the action to the word, meaning for example that Serbian public and private enterprises use energy more efficiently. However, sustainable generation and consumption of energy involves more than ecological motives. Energy efficiency means cost efficiency! Through simple measures, production and heating costs can be reduced significantly. As a consequence, investments in energy efficiency often pay themselves off within a few months. On a larger scale, generating renewable energies stands for long-dated secure and independent energy supply, therefore meaning an investment in the future.