Smart Readiness Indicator: Ready for Business? Evidence from a Northern EU Country

This paper aims to evaluate how well the increasingly popular, market-based real estate energy efficiency improvement projects support the EU’s high-level smart energy transition targets. The implications of these EU-level targets for buildings are described in the smart readiness indicator (SRI) framework. As the SRI becomes mandatory, it is important for the industry to understand whether current market practices align with the SRI framework. This study is based on a qualitative analysis of 49 energy efficiency improvement project proposal reports for properties located in Finland. We use the SRI framework to evaluate the potential impact of the various energy efficiency improvements proposed in the reports on the smart energy transition targets. Three expert interviews were also conducted to gain the interviewees’ interpretations of the industry. While energy efficiency improvement projects are obviously aimed at improving energy efficiency, the results indicate that they are beneficial for some parts of the SRI, mainly within the SRI’s main categories of heating, controlled ventilation, and monitoring and control. Some proposed actions also contribute to increased smart readiness in the categories of cooling and lighting, but the remaining four main categories are generally not being taken into consideration.