Since its implementation, the Energy Saving Certificates (CAE) They have established themselves in Spain as a market mechanism to boost efficiency, converting unconsumed kilowatt hours into an asset with economic value and regulatory traceability.
In practice, this scheme allows companies, administrations and individuals credit and sell your savings to the so-called obligated subjects (electricity marketers, petroleum product operators or gas distributors), facilitating their compliance with their legal efficiency goals without relying exclusively on subsidies.
What are Energy Saving Certificates and how do they work?
The CAE system translates the verified savings in negotiable units, following a clear itinerary that guarantees transparency and comparability between projects.
- Implementation of measures: thermal insulation, efficient lighting, aerothermal energy, machinery renovation or transportation improvements, among other options.
- Independent verification: An authorized entity confirms the savings with standardized methodologies and quality criteria.
- CAE issuance: Certificates are generated equivalent to a specific amount of unconsumed energy.
- Marketing and fulfillment: CAEs are sold to obligated subjects, who thus certify their savings objectives before the competent authority.
This approach of flexible market It mobilizes private investment, provides continuity to projects and reduces dependence on traditional public funds.
Regulatory framework and objectives
The development of the model is aligned with the Royal Decree 36 / 2023 and the operation linked to the Energy Efficiency Fund, which defines annual savings obligations and the recognition of eligible measures to generate certificates.
In contrast to the direct aid scheme, the CAEs provide medium and long-term predictability, although its return depends on the savings achieved and the market price, which requires greater technical and financial solvency on the part of promoters and integrators.
Murcia accelerates: data, investments and key sectors
The Region of Murcia has made a notable leap with a 94% growth in the last quarter, achieving 84,3 million kilowatt hours saved from 2024, a figure equivalent to the approximate annual consumption of 26.000 homes.
According to the Ministry of Environment, Universities, Research and Mar Menor, they have already been carried out 90 performances, with industry accounting for nearly half and a notable advance in transport, which has increased its participation sixfold.
Councillor Juan MarÃa Vázquez underlines the role of the CAE as engine of sustainability and competitiveness, placing Murcia among the top single-province communities in terms of savings volume and number of projects.
Since 2024, aggregate investment linked to CAE is around 10,8 millones de euros, generating not only reduced consumption and emissions, but also additional profitability derived from the sale of verified certificates.
The framework regulated by Royal Decree 36/2023 allows industries, businesses and local entities monetize their efficiency improvements and contribute to national energy saving commitments.
Pamplona, ​​among the first to auction its energy savings
The Local Government Board of Pamplona has awarded through public auction the energy savings generated in 2023 and part of 2024, with an estimated volume of 765,81 MWh.
The operation was resolved in favor of Bettergy SL at a price of €150/MWh, for a total amount of €114.871,50 (VAT excluded), enabling the transformation of savings into CAE in accordance with the regulations of the Energy Efficiency Fund.
These certificates are especially useful for obligated subjects, as they can acquire them to offset part of their contribution obligations, while the City Council recovers its investment and reinvests in new projects.
Measures that have generated savings include: rehabilitation of municipal housing, replacing carpentry in schools, installing aerothermal energy in sports facilities, and upgrading public lighting to LED technology.
The initiative has aroused interest between companies and administrations, and the Municipal Energy Agency will publish an appraisal report upon closing of the contract; in addition, ASEFAVE has recognized the City Council for this pioneering auction.
The role of engineering and new contract models
Engineering provides a differential value by offering technical-financial analysis of the savings potential, estimate the market value of the CAE and channel projects towards interested obliged entities.
Formulas such as the Efficiency as a Service (EaaS), in which energy and economic results are guaranteed, with comprehensive monitoring and partial assumption of technical risk by the supplier.
CAE Market Outlook and Challenges
A is expected expansion of the catalogue of eligible measures, greater technological diversity and progressive liquidity in the certificate market, which will facilitate greater competition and better price signals.
The challenges include: data quality and verification, CAE price management, and the need for technical capabilities to measure, report, and maintain savings over time.
With an expanding regulatory base and real cases such as Murcia and Pamplona, the CAE system is consolidating as a lever for accelerating energy efficiency, mobilizing private capital, and professionalizing the project ecosystem in Spain.