Importance of this researchThis research is crucial because,there is a need to address a lack of understanding and awareness of the scale and nature of the financial and related policy instruments available to awaken in the market. Related to this, national authorities and energy experts working on technical building codes and other issues usually do not have in?depth knowledge and understanding of the processes of the financial services community available. Similarly, the finance and banking sector is also often not aware of the challenges of many energy efficiency measures. Addressing this gap has been – and will remain ? an important issue in order to engage and enable national authorities and energy experts more effectively with the finance and banking sector. Also the report published on 26 February 2015 by the Energy Efficiency Financial Institution Group (EEFIG), which contains the recommendations on a different actions that could help to overcome the current challenges in obtaining long?term financing for energy efficiency renovation.
This work could be the basis for further work with the financial challenges related to building renovation across Europe7 .The Energy Performance Certificate (EPC) plays an important role in this process, as it gives the potential tenants and buyers the information about the energy performance of a building unit (eg. apartments) or the entire building, and allows for energy efficiency comparison of buildings and building units.
The main idea is that the EPC should influence the demand for buildings with excellent energy efficiency performance, thereby ,increasing their market value, and thus influence homeowners to renovate their buildings. But because of financial constraints homeowners are reluctant to renovate their homes. Therefore, this paper aims to find out the role EPC can play as a supporting financial tool to overcome the challenges of financing energy efficiency measures among homeowners.