With 1,865 installed cogeneration plants that produce approximately 14 GWh of power, of which 5 GWh are generated by high-efficiency cogeneration, Italy continues to believe in this technology. In fact, according to a study conducted by Italcogen, cogeneration ranks fourth in terms of investments in energy efficiency and first when it comes to investments in the industrial sector. Just how this scenario will evolve by 2025 is still uncertain due to the ongoing COVID-19 pandemic, but we do know that the system of white certificates is currently under review, which will not directly affect CAR (high efficiency cogeneration), but which could certainly affect the cost of the certificates.