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Covenant cities: Support your peers in replicating your cost-effective good practices!
Covenant cities: Support your peers in replicating your cost-effective good practices!
19 giugno 2017 - 12:34

Over 5,000 good climate and energy practices of the Covenant of Mayors community can be found in the Covenant Benchmarks of Excellence catalogue. Extend the outreach of your actions by supporting their replication across Europe!

The financial part of the Benchmarks of Excellence enables cities to showcase the cost-effectiveness of their good practices through a number of useful indicators. These notably include the present value of financial savings, the net present value of investment, the discounted payback period and the annual return on investment over the years. 

This detailed cost-assessment of your action shows the most cost-effective actions that have been successfully implemented by your local authority with the available funding sources. Moreover, it provides valuable information to your peers on the tangible outcome and impact of your action, which will allow them to adapt and replicate it in their own communities.

Our new set of best practices showcase how Covenant cities demonstrate the financial impact of their good practices:

  • Good practices

Covenant signatories Cadiz (Spain), Venezia (Italy) and Voznesensk (Ukraine) are exemplary when it comes to showcasing how their good practices have made a profound financial impact.

Cadiz has established an installation of solar thermal panels on the roof of the city's public swimming pool Piscina de Astilleros. The installation, which is used to produce domestic hot water and also heat the water of the swimming pool, consists of 100 collectors that cover a surface area of 232 m2. Cadiz's action will result in an estimated annual savings of € 21,145. The detailed financial indicators of this good practice are the following:

- CO2 reduction: 123,18 t/y

- Energy savings: 293,73 MWh/y

- Investment cost: € 216,337

- Life expectancy of the action: 10 years

- Simple payback period: 2 years and 10 months

- Net Present Value of Investment: € 397,562

- Annual Return on Investment: 16.7 % (over 10 years)

Venezia has undertaken a major public lighting renovation project, by replacing over 20,000 traditional bulbs (nearly half of the total public lighting stock) with LED technology. This has resulted in substantial energy and financial savings for the municipality. The detailed financial indicators of this good practice are the following:

- CO2 reduction: 2,886 t/y

- Energy savings: 5,975 MWh/y

- Investment cost: € 6,000,000

- Life expectancy of the action: 8 years

- Discounted payback period: 4 years

- Net Present Value of Investment: € 4,755,000

- Annual Return on Investment: 8.7 % (over 8 years)

Voznesensk undertook the installation of solar collectors on municipal buildings. Moreover, the Ukrainian city introduced an information system, which controls in real-time the water and energy consumption of the city's public sector. The detailed financial indicators of Voznesensk good practices are the following:

- CO2 reduction: 19 t/y

- Energy savings: 54,6 MWh/y

- Investment cost: € 38,506

- Life expectancy of the action: 20 years

- Discounted payback period: 8 years and 3 months

- Net Present Value of Investment: € 26,112

- Annual Return on Investment: 3.5 % (over 20 years)

Join these exemplary Covenant cities in providing information on financing in your own Benchmarks of Excellence. It will not only highlight your achievements, but it will also help the Covenant of Mayors community better replicate your successful good practices!

(c) photo shutterstock.com

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