Conclusion

We have had numerous contacts with different types of stakeholders beyond the consortium of sponsors of the study: the French Treasury, MAPPP, Banque de France, INSEE, the French Cour des comptes, the European Commission (DG Energy, DG Markt, …), European Parliament, France Domaine, DHUP, CGEDD, Stratégies locales, CSTB, EIB, KfW, ADEME, AMF, BPIE, …

It appears clearly that the operational launch of the ESFA project will require a strong commitment from all stakeholders (State, banks, industrials, local authorities, …).

At this stage of the project, the following topics have been identified and analyzed:

• The issue of according the state guarantee while identifying credit risk with a systematic study;
• The issues of European accountancy rules, its possibilities and its limitations;
• The energy performance contract (EPC) as the key scheme for these renovations, subject to its improvement (access to SMEs and industrial groupings, expertise of local authorities, transparency, governance, etc.);
• The need for strong levers for an ambitious large-scale deployment: the change of scale in operations and the pooling of projects that should lead to lower costs at the beginning of the project and in the long run.

We will continue to address the following key points with involved stakeholders:

• European accounting framework in favor of EE;
• Risk analysis and calibrating the equity capital;
• Creating groups of public actors;
• Productivity gains.