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Text from PDF Page: 001GREEN HEAT FOR ALL SUMMARY The renewable heating support schemes in the EU are very different, both in the level of support and in the availability. Some schemes have a short lifetime and quite limited budgets. Others consist of a soft loan in a period where interest rates are so low that this makes no difference. The existing diversity of schemes creates huge differences from country to country for the considered standard household that wants to switch to renewable heating. Adding to that, the complex taxation on heating fuels does not always make it easy for consumers to understand when the switch is leading to a saving on heating bills. The purpose of this fact sheet is to summarise our Report on the economic affordability of a switch from fossil heating to renewable, zero-emissions heating for a family of four that optsfor the cheapest and most suitable technologies available today and aiming at paying back with their savings on bills. The payback time, defined as the time needed to pay back the upfront cost through the savings on bills, is of key importance for most users: the most relevant finding of the analysis is that at current costs, only 8 countries have an acceptable pay-back time, meaning 8 years or less. If a CO2-tax of €100/ton CO2 were introduced in the EU (either with the Proposed dedicated ETS scheme or alternatively through the Energy Taxation Directive) the number of countries with such acceptable pay-back time would rise to 12 and the overall amount of extra-incentives would be greatly reduced. The simplest way of increasing affordability is to increase subsidies meant to overcome the upfront cost: our rough estimation for the EU countries indicates that increasing subsidies to a level where all EU households could afford to switch to renewable heating with a payback of 8 years or shorter, amounts to 70 billion €. If a carbon tax of €100/ton CO2e is introduced, the extra subsidy needed will fall to around €20 billion, which could be covered entirely by the revenues. These revenues should also help to compensate for the extra costs borne by vulnerable consumers.
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