Data from the European Commission show that the greatest need for energy efficiency renovations is - by far - in the residential sector. In the Czech Republic, a scheme to reduce GHGs distributed €350 carbon revenues to subsidise renovations of 32 000 homes. Over the period 2014-18, each €1 invested by the State attracted €3 of private (householder) investment. If this 1:3 return were to be sustained and 100% of national carbon revenues were to be recycled into the scheme, by 2030 in the Czech Republic alone, EU ETS revenues of €4-7 bn could deliver €12-21 bn of investment in renovation. Scaling up this approach across the EU would contribute significantly to the EU Green Deal targets.