Research project within the "IWT-proeftuin Ren BEN". A innovative project that takes up the challenge

to accelerate the zero energy refurbishment of the existing housing stock in the cities of Menen,

Harelbeke and Kortrijk in an regional housing refurbishment program. (www.leiedal.be/renben &

www.leiedal.be/warmerwonen). The project is reported to a consortium of public actors

(intercommunale Leiedal, city of Kortrijk), public bodies (IWT, Bond Beter Leefmilieu), private actors

(building companies like Bostoen, Renson, lsover) and the university of Ghent. Concrete task for the

students:

1. The analysis of the return of a third party investment ( an energy loan combined with a lowered

energy invoice by the energy supplier). This system has been piloted in Ostend by EOS to finance roof

insulation for house owners. The research task is about to detect the possibilities or weaknesses of

the system to roll out on the private rental market for deep renovations, together with a market

analysis and prospectus for credit banks/organisations. This research task is about researching and

setting up a financial model for a third party investment system for deep renovations on the housing

market, with a special focus on the private rental market. In this market, the legislation on the rental

market is a predominant precondition. Within the IWT proeftuin three times 10 row houses will be

renovated. These houses are possible test cases for this third party investment. Before the renovation

the possible energy gains are calculated by the University of Ghent. After the renovation the energy

consumption will be monitored by "Bond Beter Leefmilieu" We presume the behaviour of the residents

will change after the renovation). This should allow to have an insight in the financial risks for the credit

supplier.

2. Setting up a financial decision model based on the return on investment for refurbishment in the

housing market. - setting up a calculation model that convinces possible house owners on the return

on investment - research on the parameters of this model: house value, rent, funding of the

refurbishment related to the possibilities of premiums, tax incentives, state benefits, third party

investments - testing out the model on 5 of the houses within the !WT project - input and feedback

from a work group with the construction sector, immo sector, public authorities The conclusions of the

two research tasks will be evaluated and spread to the public authorities in Zuid-West-Vlaanderen,

and other regions in Flanders.