Energy – buildings

Green building financing, certification and valuation

Green building certification is often seen as a means for clean technology diffusion and enhanced energy efficiency. In this part of his doctoral thesis, Philippe Bélanger examined certified green building investment in Switzerland. First, he examined the actual valuation process on the property market and the extent to which it includes the energy performance of buildings. Next, he defined how high performance buildings should be valued, taking specifically into account forecasts for future energy prices and the option of different energy mixes. This allowed for the investigation of the link between the value of energy savings and the premium paid for green certified buildings in Switzerland. (2010-2014)

Analysis of barriers to the energy refurbishment of buildings in the canton of Vaud

This study, carried out with E4Tech in 2014, made it possible (1) to understand why property owners in the canton of Vaud have relatively little recourse to the federal government’s Building Program, which subsidises energy renovation measures, and (2) to propose measures to remedy this situation. Report (in French). (2007-2014)


Optimizing the energy renovation of a large housing stock based on empirical data
To invest in the energy efficiency of buildings creates a financial risk due to the difference between theoretical and actual cash flows. This project develops a planning tool to control this risk. First of all, we quantify the impact of improvements on energy consumption and rents. Next, we create a new module for the software InvestImmo modeling the real cash flow from the buildings and optimizing investments. (2017-2019)

Identifying barriers to the energy renovation of buildings at the neighbourhood level and State measures to remove them

As part of the implementation of the Canton Vaud’s Energy Concept, the Directorate General for the Environment (DIREN) is working with LEURE to identify the barriers to energy renovation, particularly at the neighbourhood level, and to propose action levers to speed up the process. Furthermore, the project will test the applicability, on the scale of the canton or on a portion of it, of the objectives defined by the Federal Council in its 2050+ energy strategy as well as the objectives of the Canton as set out in its climate plan. (2021-2022)