Buildings in EU countries account for approximately 40% of the total primary energy consumption and 36% of greenhouse emissions. EU climate change objectives for 2020, such as a 20% increase of RES in gross final consumption of energy, 20% reduction of buildings primary energy consumption and 20% reduction of greenhouse gas emissions compared to 1990 levels are key issues nowadays, whereas new more ambitious targets were set in 2030 climate and energy framework.

The cost‐effective energy saving in the building sector is a high priority in Europe; The European Union has set ambitious targets for buildings’ energy performance in order to convert old energy‐ intensive ones into nearly zero energy buildings (nZEBs). This study focuses on the implementation of a collective self‐consumption n ZEB concept in Mediterranean climate conditions, considering a typical multi‐family building (or apartment block) in the urban environment. The aggregated use of PVs, geothermal and energy storage systems allow the self‐production and self‐consumption of energy, in a way that the independence from fossil fuels and the reliability of the electricity grid are enhanced. The proposed n ZEB implementation is a sustainable solution for the Mediterranean area, whereas the incorporation of electrical energy storage units—though beneficial for the reliability of the grid—calls for the implementation of positive policies regarding the reduction of their payback period.