The 110% Superbonus, the flagship measure of the National Recovery and Resilience Plan (PNRR), has achieved significant results in terms of energy efficiency and reduction of CO2 emissions. However, the Court of Auditors, in its half-yearly report, highlights critical issues related to the cost-benefit ratio and the economic sustainability of the intervention.
What are the strengths and weaknesses of this facility? Is it possible to make it more fair and effective?
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The results achieved by the 110% Superbonus
The objectives set by the PNRR seem within reach: 35.8 million square meters to be made more efficient by 2025. With 17.58 million square meters already redeveloped by mid-2023, the intermediate target has been exceeded.
The interventions, supported by over 60,000 registered projects, demonstrate the speed of implementation of the measure and the positive impact on the energy efficiency of the residential sector.
Is this progress enough to justify the costs? Or do we risk sacrificing economic and fiscal sustainability on the altar of efficiency?
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The limits of the cost-benefit ratio
According to the Court of Auditors, the return time of the investment for the 110% Superbonus is estimated at 35 yearswell beyond the useful life of many incentivized systems and materials. Even considering an improvement in the economic return, reduced to 24 years with specific calculations by Bank of Italy, the balance remains negative.
These numbers, linked to the gross investment of 123.24 billion and the limited tax benefits, highlight the urgency of a review of the measure.
The Court of Auditors applauds the Meloni Government’s choice to drastically remodulate the measure and proposes a further step forward: a scheme of differentiated deductions. More efficient interventions, such as the installation of solar collectors or thermal coats, should obtain higher rates than other less incisive operations.
This modulation would make it possible to optimize the economic effectiveness of the Superbonus, while ensuring greater fairness.
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The future of energy requalification
Despite the limitations, the Superbonus represents a first step towards the decarbonisation of the residential sector. However, to achieve the objectives of the National Energy and Climate Plan, more targeted and sustainable policies are needed.
The review of tax breaks and a differentiated approach for the various interventions can guarantee a greater impact, reducing the gap between costs and benefits.
