Energy retrofits in shared ownership: Exploring motivations in Finnish housing companies

Building retrofits are essential for decarbonizing the built environment. Yet housing companies, where owner-occupants and residents make joint decisions, are understudied. This study examines energy retrofits in the context of Finnish housing companies, focusing on owner-occupants' decision-making regarding energy retrofits in apartment buildings and terraced houses. The data come from a 2023 survey of 416 Finnish owner-occupants, combined with building and spatial data. The findings show that about half of the respondents reported undertaking energy retrofits in the past five years, primarily low-cost, maintenance-related actions, such as window and door replacements. More complex retrofits and combinations of multiple actions were less common. The likelihood of undertaking energy retrofits was higher in larger, older housing companies, with economic factors playing a key role. The findings also reveal a growing divide among Finnish housing companies with approximately one-third remaining entirely inactive in energy retrofits. To overcome barriers related to complex decision-making and market structures on shared ownership energy retrofits, policy measures should be tailored to specific housing company segments through targeted information and diversified financial incentives.