Solution by: Environmental Policy Division of Seoul Metropolitan Government
Saving Energy by Retrofitting Seoul’s Buildings Seoul, South Korea: The Building Retrofit Project (BRP) provides affordable loans to retrofit buildings in Seoul in order to achieve energy savings.
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The BRP is part of a comprehensive city plan, initiated in 2012, which aims to reduce GHG emissions by 40% by 2030. The program allows energy companies to recover their up-front investments over time via project energy savings. Seoul makes these investments possible by offering competitive loans to building owners and energy service companies. The BRP is being implemented on all types of public and private buildings. Energy-saving improvements include wall insulation, high efficiency heating and cooling devices, and LED lights. Moreover, under the program, each building’s energy performance and consumption details are made public. THE TRIPLE BOTTOM LINE
SOCIAL As part of the project, the energy performance of the buildings are made public, which enables citizens to access energy usage information when renting or buying a property.
WHY A SUSTAINIA100 SOLUTION? In 2010, buildings accounted for 32% of total global energy use, and under business-as-usual projections, use of energy in buildings globally could double or even triple by 2050.1 In Seoul, 20,000 buildings and houses have already been part of the BRP to reduce the city’s energy consumption. © By Dream Anvii. Licensed under CC BY. www.goo.gl/ZkTPwP
ENVIRONMENTAL In Seoul, buildings account for 56% of the total energy consumption. 2 As such, the BRP program could substantially lower the city’s environmental footprint.
ECONOMIC The BRP eases the upfront financial burden of efforts to achieve energy savings by providing low-interest loans to retrofit buildings.
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1 IPCC Fifth Assessment Report. “Climate Change 2014: Mitigation of Climate Change.” 2014. 2, 3 Environmental Policy Division Seoul Metropolitan Government. “We are energy.” Report.
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Published on May 26, 2015