Asser Service Costs Model & Guarantee Fund

Call Reference: 
LC-SC3-EE-9 and EE-10
Short description of project idea : 
Increasing Energy Efficiency (EE) in the built environment is a key priority in the battle against climate change and energy poverty. However, private financing to increase EE in owner-occupied housing is often limited, due to perceived risks, inadequate knowledge of future benefits or limited financial resources by the house-owner. Homeowners are not willing or are not in a financial position to enter an extra loan and thereby increase their existing debt. The Assen Service Costs model offers a financial model to solve this issue.
Municipality of Assen in cooperation with the Province of Drenthe and The Netherlands Investment Agency (NIA)
Main areas of expertise: 
Energy Efficiency, Smart Grids, Autonomous Driving, Circular Economy, Sensor Tecnology
Main objectives of the project and how will they be achieved: 
The Assen Service Costs-model (ASC-model) is committed to encourage private owners to renovate their homes so they can provide their own energy for heat and electricity. This alternative form of financing is based on “object-based funding” instead of personal-based funding (e.g. a mortgage). In the ASC-model, owner-occupied houses are renovated to be ‘zero on the meter’, i.e. the energy consumption of the household equals or is less than the revenue from renewable energy sources (e.g. solar panels). The costs for the Zero on the Meter renovation will be deducted in the HOA fee ( in Dutch = service costs) of the Homeowners Association (HOA) and be paid from the savings in energy costs. This can be an existing Homeowners Association, but also a HOA which is specifically established for this purpose (for example for uniform terraced houses or single family neighbourhoods). The amount of fee is leading to the term of the duration of the agreement. At the time the property is sold, the HOA fee will be taken over by next homeowner. The selected consortium of builders who will realise the renovation of the building to Zero on the Meter, will guarantee the agreed energy performance during the period of the financing. They are responsible for the management and maintenance of the building. In this way, the property owner exchanges the energy costs for service costs. The effects A rollout of this project will have multiple positive effects. The release of capital, among other banks and pension funds, can lead to a huge boost for the construction and sustainability sector and thus for the growth of the economy. This, of course, in addition to the contribution on the objectives of CO2. Other effects are, fiscal benefits (tax revenues) and the increase of the livability of cities. All these aspects make that there is a lot of interest from the Dutch Parliament and the European Parliament in the Asser Service Costs Model.
Challenges that may determine the impact of the project: 
Guarantee Fund
Since there is no collateral, a Guarantee Fund gives the investor / moneylender guarantee on the monthly payments and not on the total investment. Therefore, the risk for the moneylender remains minimal, so that interest rates also can remain low. In return, the lender or bank gives up the joint and several liability of the participant(s) (homeowners). A big advantage for the homeowner is that he / she is not burdened with an additional debt. So this finance model transparent and accessible.
Partners that have already expressed interest in the project and expected role: 
Partners with expression of interest
Greenovate! Europe EEIG, Guillaume Corradino Head of European Programmes City of Tampere: Petra Kortelainen Kamp C Duurzaam Bouwen België: Jonathan Verdonck Agencia Extremeña de la Energía: Alfredo Pérez Claeys-Bouuaert
Profile of partners sought and expected role: 
Development of Methodology to compare the financial models in different member states, taking into account the regional and local conditions
Previous, relevant EU project experience: 
First Name: 
Last Name: 
Name of the organisation: 
Municipality of Assen
Short description of organisation: 
Municipality of Assen, A city of 67.000 inhabitants in the North of the Netherlands, capital of the Province of Drenthe. Assen is known for TT Circuit Assen, this is one of the most famous motorcycle racing circuits in the world. Province of Drenthe, located in the northeast of the country. It is bordered by Overijssel to the south, Friesland to the west, Groningen to the north, and Germany (districts of Emsland and Bentheim) to the east. In January 2017, it had a population of 491,867. The Netherlands Investment Agency (NIA) was established by the ministry of Economic Affairs on request of local and regional governments due to the lack of a national promotional institution (NPI). As today, NIA helps local and regional governments, public-private cooperation's and entrepreneurs to gain access to finance.

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