The European Union is at the forefront of a transformative shift in renewable energy financing, navigating a complex landscape shaped by public investment initiatives and private market dynamics. As the EU pursues its climate ambitions, the marriage of innovative policies, emerging technologies, and strategic investments has motivated significant developments in renewable energy. 

This report identifies the renewable energy financial products and services available to prosumers in three target countries: Lithuania, North Macedonia, and Bulgaria. These countries, each at different stages of their renewable energy journey, showcase the diversity within the EU framework. North Macedonia, advancing towards EU accession, is aligning its renewable energy policies with EU standards and benefits from a relatively vibrant financing environment for residential renewable energy installation, albeit with high borrowing costs. Lithuania, a leader in residential energy upgrading, boasts a robust environment for the deep retrofitting and renovating of multi-family apartment buildings alongside its renewable energy investments. Bulgaria has organized €1.1B in support for energy renovations of residential and public buildings, although private financing for consumer-level residential energy installation is currently limited to two commercial banks. Against European trends, the individual financing environments of these three countries, summarized in this document, contribute significantly to the collective EU narrative in renewable energy innovation and adaptation.

Read the full report prepared by Habitat for Humanity International Europe and the Middle East.

The project SUNRISE aims to support local organizations in Bulgaria, Lithuania and North Macedonia in initiating the expansion of solar energy projects through exchange of experience and knowledge sharing. It will identify barriers on the national and local level and develop solutions for multi-family buildings. The relatively low-threshold approach of plug-in PV-modules will raise apartment owners’ and tenants’ awareness of the solar potential and initiate larger installations in the medium term. 

In the long-term, SUNRISE will enable self-consumption and putting consumers at the heart of the low-carbon transition for unleashing private investment in RE, creating a potentially cost-effective strategy to meet renewable energy and emissions reductions targets. Citizens becoming prosumers will lead to financial, environmental and security benefits for households and society at large. Benefits from using self-generated electricity include cheaper energy bills, energy autonomy, reduced carbon emissions and the creation of new local jobs. Small-scale installations will make people aware that they can collectively have a large impact on energy transition and carbon emissions reduction.