The Energiewende in Germany needs to be accompanied by energy efficiency measures. One of the most relevant topics in this regard is the energy-efficient retrofitting of residential and office buildings. Here, large savings can be realized, especially through the efficient production and use of thermal energy. At the same time, these measures generate substantial positive economic effects on a local level. On behalf of the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, the IÖW in cooperation with Ecofys determined municipal effects of value creation through energy-efficiency refurbishment in Germany. The aim was to raise local actors’ acceptance for these measures (e.g. policy makers, house owners, tenants, companies etc.) and thereby increase refurbishment rates.