Project duration: 05/2010 – 09/2010

Client: UNDP for HEP-ESCO Ltd. Zagreb

Team leader: Sanja Tišma, PhD

Overall goal of this Project is to analyze different options for the treatment of energy efficiency projects in local budget and to develop clear and unambiguous recommendations for the content of the Ordinance on Treatment of Investment in Energy efficiency Improvements for Budgetary in Croatia. Based on existing research (The analysis and recommendations for local budgets to encourage energy efficiency projects, conducted by the Institute of Economics in 2008 and the Manual for the implementation of energy efficiency projects in the budgets of local (regional) selfadministration units, prepared by IMO in 2009) and the implementation of new analysis, the relevant Croatian and European legislation was identified and the requirements arising from them were analyzed. Preparation and implementation of measures envisaged in the Plan of Implementation of the Program’s economic recovery may encourage investment in energy efficiency (the private equity investment funds and international financial institutions and EU funds) which can be viewed as an opportunity. On the other hand, removing all barriers to foreign direct investment is one of the medium-term measures. Accordingly, it can be expected that the obstacles to investment in energy efficiency measures will be removed before the third quarter of 2011. The study identifies measures and regulations which should by then be prepared.

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