Analysis of investment gaps and needs for Latvia

With a focus on energy efficiency and renewable energies, the report assesses the investment needs needed to meet Latvia’s climate and energy targets for 2030. The report examines existing studies relating to Latvia and compares their results with the current level of investment in the country.

The report concludes that the differences in the estimates of investment needs are mainly due to differences in the methodology used, differences in the measures included in the scenarios, differences in the input data used and differences in the assumptions made. According to the recently published National Energy and Climate Plan, the investment requirement for energy efficiency and renewable measures will amount to 445 million euros annually over the next 10 years. Only half as much is currently invested in such measures, with the bulk of the investment being subsidized by grants from the EU’s Structural and Investment Funds. In order to be able to meet Latvia’s climate and energy goals, a doubling of the investment amount is necessary, which underlines the importance of private investments in achieving this goal.