The cost of the energy renovation of building stocks in Canton Geneva (CEPIC study)

The official policy target of the canton of Geneva is to reach the ” 2000W society” benchmark. But existing regulation on building renovations is patchy and not incentive to reach this target. The renovation rate in Geneva is the lowest in the country, with less than 1% of existing buildings being renovated each year. This figure should be at least tripled to address the challenge to significantly reduce GHG emissions. Heating interiors is responsible for half the amount of yearly GHG emissions, because buildings are by far not as well insulated, as they should be. The main obstacle for energy renovation is the very long time of return after renovations. This study (available only in French) estimates the total cost for renovating the entire building stock in the canton of Geneva. Noe21 thus provides, for the first time, an estimation of the amount of work to be achieved.

Noé21, supported by two architects specialised in estimating property value and energy renovation costs, conducted this CEPIC report. A panel of 20 key stakeholders from an engineering school, tenant and renter unions (70% of Geneva households are renters) and real estate professionals were questioned throughout the duration of the research. The study shows the need to develop a more effective regulatory framework capable of reducing the payback time of renovation investments and thus capable of accelerating thermal renovations.