Economic Viability of Energy-Efficient Building Measures in Existing Structures

Alexander Henkel and Daniel Piazolo

ERES from European Real Estate Society (ERES)

Abstract: This paper focuses on the economic and environmental implications of energy-efficient building practices in existing structures. It starting point is the significant impact of the construction sector on global greenhouse gas emissions and energy consumption, emphasizing the urgent need to address climate change mitigation efforts. An important aspect thereby is the lifecycle assessment of buildings, dividing the process into distinct phases such as construction, usage, deconstruction and recycling to analyze environmental impacts, costs, and resource efficiency. By evaluating different aspects like building materials, construction techniques, and energy usage, mainly effected by heating and ventilation systems, the paper aims to provide insights into enhancing energy efficiency and reducing emissions in building practices. The paper incorporates technical and economic perspectives to explore the balance between environmental sustainability and financial considerations in building modernizations. Through empirical analyses using data from the Building Cost Information Center of the German Chamber of Architects (Baukosteninformationszentrum der Deutschen Architektenkammer - BKI), the paper aims to determine the economic value by incorporating both, a brief theoretical overview contrasted by an analysis of measures that have been carried out. The research addresses the challenges associated with retrofitting existing buildings, considering factors like varying structural conditions, historical preservation requirements, and financial incentives for property owners. In conclusion, this paper contributes to advancing knowledge in the field of sustainable construction practices by integrating technical analyses with economic evaluations and by identifying the interplay between energy efficiency, environmental impact, and financial viability.

Keywords: Energy Efficiency; Existing Buildings; Modernization; sustainability (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2025-01-01
New Economics Papers: this item is included in nep-eff, nep-ene and nep-env
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