Audit Questions Effectiveness of Moldova’s Energy Efficiency Investments
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Accounting Chamber: Effectiveness of Energy-Saving Investments in Doubt

Investments in energy conservation in Moldova are economically viable but face significant barriers. The economy’s high energy intensity, rising utility rates, and government programs worth billions of lei underscore the urgency of modernization. However, the process is being held back by a lack of effectiveness assessments—for example, for large-scale government housing modernization programs costing 1.4 billion lei.
Irina Covalenco Reading time: 1 minute
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энергоэффективность

Auditors reached this conclusion while reviewing a report assessing the effectiveness of investments in the energy efficiency of public buildings. “Investments in the energy efficiency of public buildings have borne fruit, but the authorities lack sufficient mechanisms to demonstrate their effectiveness,” the Accounts Chamber stated.

Between 2019 and 2025, measures to renovate public buildings “contributed to lower energy consumption, reduced budget expenditures, decreased CO₂ emissions, and improved operating conditions.”

However, it is not possible to assess their effectiveness—there is no baseline data on the energy efficiency of the housing stock and other buildings, according to the auditors. Moreover, the energy intensity of production in Moldova is significantly higher than the European average.

Furthermore, “complex project implementation procedures, the lack of authorized infrastructure for managing asbestos-containing waste, and a monitoring and evaluation system for energy efficiency that is not fully operational” prevent any far-reaching conclusions from being drawn.

The audit also revealed that the authorities “lack a unified mechanism for consolidating and evaluating the results of investments made at the national level,” and that monitoring of electricity consumption does not provide sufficient information to assess the return on investment. The only thing that can be said with certainty is that insulating buildings and replacing equipment do indeed reduce heating and electricity bills.


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