White certificates (dubbed “certificati bianchi” or “titoli di efficienza energetica”) have proven to be quite a successful incentive scheme in Italy in the past few years, generating significant returns on investments especially for productive sites.
After a long wait, the relevant regulation has now been amended.
The new regulation (which entered into force on April 4, 2017) introduced clearer rules on several issues (projects eligible for incentives; control over the effective obtainment of energy savings; liability for the implementation of energy efficiency interventions; et alia). At the same time, the former mechanism called “Tau factor” (which in the past years enabled to obtain advanced returns on investments in energy efficiency) was abolished, and stricter rules in respect of various aspects (such as the criteria to calculate the baseline for energy savings, etc.) have been introduced.
While the new scheme will probably allow a slower return on investments on future energy efficiency projects in the short term (due mainly to the abolition of the Tau factor), at the same time a positive effect in terms of stabilization of the white certificate market can be expected thanks to the clearer rules introduced.