According to most recent data available, almost 20 percent of Bosnia and Herzegovina’s (BiH)gross domestic product is spent on energy, compared with about 6.1 percent in the United States and about 4.75 percent in EU countries. Meanwhile, increasing tariffs in BiH in both the electricity and gas sectors are inflating energy costs even more for consumers. BiH citizens and the government could offset some of these costs by reducing consumption through energy efficiency measures.
It has been shown through numerous pilot projects implemented in BiH that SMEs exist that are capable to implement energy efficiency measures. In addition, local governments and citizens are becoming more aware of the benefits of implementing energy efficiency measures. Unfortunately, one of the key obstacles to the implementation of energy efficiency measures on a grander scale in BiH the unavailability of financing mechanismsremains. Both the public and private sectors have limited options for obtaining funds; and,with limited funds, the energy efficiency industry in BiHwill continue to stagnate.
With a financing model in place the energy efficiency industry could utilize its large potential and create much needed jobs in BiH. The infographic below shows the potential of energy efficiency in BiH: