By 2050, 24 billion euros of investments are estimated for the decarbonized building stock

2025-03-06 07:37:00, Ekonomi CNA

By 2050, 24 billion euros of investments are estimated for the decarbonized

An investment of around 24 billion euros is estimated to be required to achieve the objective of decarbonizing the building stock by 2050.

The investment amount is calculated separately for 3 categories of buildings, such as: residential buildings, public buildings and commercial/private service buildings.

Data on the total investment values ??for the decarbonization of Albania's building stock, linked to the objectives set by the PKEK for the reduction of greenhouse gas emissions, have been published in the decision "On the approval of the long-term strategy for the renovation of the building stock" published in the Official Gazette.

Of the total investment needs until 2050, about 69% of the total estimated fund is required for the residential sector, 25% for the commercial/private services sector and about 6% for public sector buildings.

The investment value for decarbonizing the residential building stock is estimated at 16.5 billion euros by 20250.

In 2023, the total number of residential buildings is estimated to be 632,936 (of which 450,545 or 71.2% are occupied), with a total area of ??about 83.52 million m² (of which 56.06 million m² are occupied).

By 2050, the total number of residential buildings is estimated to reach about 697,037 (of which 462,605 are occupied) with a total area of ??about 105.64 million m² (of which 94.92 million m² or 89.9% are occupied). Compared to 2023, the number of residential buildings is projected to increase by 10%, while the area growth is expected to be about 27%.

The cost of decarbonizing public buildings is estimated at 1.45 billion euros by 2050, of which 795 million euros for central government buildings and 655 million euros for municipal-level public buildings.

In 2023, the number of public buildings is estimated to be 9,492 with a total area of ??about 6.14 million m². By 2050, the number of public buildings is estimated to reach about 12,950 with an area of ??9.97 million m². Compared to 2023, the number of public buildings is expected to increase by 36% and 62% in total area.

The strategy also states that the expected investment for decarbonizing the commercial building stock is estimated at 6 billion euros by 2050.

In 2023, the number of private service and commercial buildings was estimated at approximately 85,098 with a total area of ??approximately 18.96 million m2. By 2050, the number of private service and commercial buildings is estimated to reach approximately 107,481 with an area of ??35.65 million m2. Compared to 2023, the number of public buildings is projected to increase by 26% and 88% in total area.

According to the strategy data, Albania's building stock (including residential, public and private building stock) has a share of around 37-38% of the total final energy consumption of 2,194 ktoe in 2023 and is the first largest energy consumer with 37.08% followed by the transport sector with 36.56% in Albania.

Decarbonization of the building stock refers to the process of reducing or eliminating carbon dioxide (CO?) emissions generated by buildings throughout their life cycle. This includes emissions generated during the construction phase (such as the production and transportation of materials), during the operation phase (for energy used for heating, cooling, and lighting), and at the end of the building's life (such as demolition and waste management).

The goal of decarbonizing the building stock is to achieve the transition towards highly energy-efficient, low-carbon and sustainable buildings, through improved thermal insulation, the use of renewable energy sources, low-carbon impact construction materials and the implementation of intelligent energy management systems.

This process is vital for meeting climate objectives, as buildings constitute one of the main sectors contributing to global greenhouse gas emissions./ Monitor Magazine