MultiHome: Transforming the Home Renovation Market in Bulgaria
The MultiHome project, funded under the LIFE programme, is revolutionising residential renovation in Bulgaria’s Plovdiv region by establishing an integrated home renovation service. We spoke to Teodora Marinova, Managing Director of Quadro Synergy, a consultancy specialising in EU funded research and innovation projects and business planning.
Many residential properties in the Plovdiv region meet only low energy efficiency standards. The MultiHome Service Hub offers a single access point for expert advice and full guidance throughout the renovation process, helping homeowners implement energy-efficient measures. It supports residents at every stagefrom identifying upgrades and securing financing to coordinating subcontractors and delivery. The service encompasses both single- and multifamily buildings, as well as energy communities. While grants have been allocated to support some renovation efforts, the effect remains limited. “In Bulgaria, we are at the stage of transitioning away from a system that is purely dependent on grants, as this is unsustainable for the market,” explains Marinova. “We are exploring new business models, fostering novel partnerships, and preparing stakeholders for this transition.”
Analysing local value chains
“MultiHome has designed packages ranging from basic measures like window and insulation replacement to advanced solutions with renewable energy and nearlyzero standards, offering homeowners coordinated, high-quality work from multiple actors as a package deal,” Marinova clarifies.
As part of their work in the project, Quadro Synergy has performed value chain analysis for each of the package offers, mapping out the renovation process steps and identifying the key market actors, service and financial flows. “This analysis also helps identify the innovative roles renovation business actors may play and explore potential new business and financial models, such as on-bill financing or pay-for-performance contracts”, says Marinova.
“Constructive dialogue and collaborative investment strategies are critical to advancing the residential building renovation market.”
Stakeholder Engagement is Key to Making Progress
Effective communication between stakeholders is crucial to advancing the energy-efficiency of a region’s residential building stock. This issue is central to Quadro Synergy’s work in the MultiHome project, which is engaging citizens, local municipalities, businesses, and financial institutions, through a range of activities. “Our effort is to address information and communication gaps, overcome common barriers such as a lack of awareness and trust in novel approaches and ensure that each actor’s perspective informs the development of the renovation offers,” explains Marinova.
Shifting Perspectives
Many homeowners may only be aware of conventional funding mechanisms, such as grants which cover the entire cost of renovating a property. However, Marinova highlights that innovative instruments are emerging, including blended finance, guarantee and revolving funds.
“Our aim is to ensure homeowners are wellinformed about the latest trends and consider the full range of financial options available, including their own contribution,” she says. She emphasises that fostering a shift in mindset is vital to driving change within the community.
“We also want to discuss the evolving framework with key institutions such as banks, emphasising their role in the development of preferential green loans and deployment of specialised credit
lines, gathering their feedback on priority areas for collaboration,” continues Marinova.
Towards Innovative Business and Financial Models
For new business models to flourish, strong political will to transform markets is essential. “While this shift is in progress, effort is also required to deepen the understanding of all stakeholders and encourage active, collaborative thinking,” Marinova stresses. “We are facilitating dialogue in which local agencies, governments and financial institutions deliberate on potential risk-sharing and risk mitigation mechanisms, while businesses define and adapt their roles.”
MultiHome: Stakeholder Cooperation Service Hub and Platform for Accelerated Home Renovation in Plovdiv Region
Coordinated by: Energy Agency of Plovdiv (EAP) Partners: Municipality of Plovdiv (PLV), Plovdiv Chamber of Commerce and Industry (PCCI), Quadro Synergy (SYN), Union of Homeowners’ Associations (CAC)
Objectives: Multihome aims at establishing a multi-stakeholder cooperation model for integrated home renovation of single- and multi-family buildings that supports the implementation of ambitious energy efficiency and RES actions. The service hub is operated by the Energy Agency Plovdiv, backed up by 18 local municipalities and branch organisations.
Quadro Synergy Ltd. is leading the EU communication activities, and the business and financial modelling tasks in MultiHome. The MultiHome project is co-funded by the European Union under Grant agreement No 101120815. Learn more at: multihome-project.eu
Contact details: E: office@quadrosynergy.eu W: quadrosynergy.eu
Teodora Marinova is the Managing Director of Quadro Synergy, with over 20 years of experience in European project development and management. Her focus is on projects in the fields of bioeconomy and energy, and she has worked extensively with European scientific institutes, businesses, and policymakers to foster interdisciplinary collaborations and dynamic knowledge transfer.
