Buildings represent the largest untapped source of cost effective energy saving and CO₂ reduction potential within Europe. More than 40% of Europe’s residential buildings predate the 1960s, when building energy regulations were limited; the majority of these buildings have not been brought up to modern energy standards. However, currently, the rate of building renovations in the EU comprises just 1% of the building stock, with only a small proportion of this activity comprising so-called deep renovations. Despite considerable market size and EU mandated retrofit targets, the sector continues to suffer from significant underinvestment, the market has not realized its full potential and a wide range of actual and perceived barriers impede stakeholders. For Energy Efficiency Conservation Retrofit (EECR) project actors, the challenge is to respond to this new business environment, while maintaining adequate value for stakeholders. For housing property actors, this means a growing impetus to understand the value propositions of other EER stakeholders and to consider new, innovative ways of doing business. The Business Model concept refers to organizational logic through which companies operate, defining the manner by which enterprises deliver value to customers, entice customers to pay for value, and convert those payments to profit. This paper posits that new collaborative approaches to developing business models are required to plan EECR projects such that value generation is maximized while value capture is satisficed.