The InnoFinRes project aims to support the transition to renewable energy sources through the reconstruction of a local kindergarten with a hybrid photo-thermal solar system and the creation of a new financing model.. Various stakeholders will be involved in the model creation process, which brings certainty that it will be feasible in the local context. Through the project, local self-government will be able to access decentralized energy from a new financial perspective.

The project includes a three-pronged approach to the goal "Promoting retrofitting and decentralized energy". The three approaches are:

1. By introducing a hybrid photo-thermal solar system, more efficient RES technology will be offered in facilities that need both electricity and hot water. Potential users will be informed about alternative options to standard solutions.

2. Through the creation of the new financial model, the project aims to encourage local government and communities to become investors and leaders of the energy transition., by bypassing the usual financing mechanisms and creating a basis for establishing energy cooperatives or similar structures.

3. By creating a mechanism for alternative investment, the financial burden will no longer fall on one entity, rather, it will be fragmented and more flexible and less risky. This will allow municipalities and local governments greater agility when it comes to the transition to RES, and it will also be clearly seen who pays for the extension and who benefits from it.

The project is the result of the cooperation of the Macedonian Solar Association "Solar Macedonia", Municipality of Ilinden, SmartUp-Social Innovation Lab, CLICK, Korimako и Island Energy Council of Gran Canaria, and is supported by EIT Climate – KIC.