Energy Cost Reduction in the Administrative Building by the Implementation of Technical Innovations in Slovakia

Katarína Teplická (), Samer Khouri, Ibrahim Mehana and Ivana Petrovská
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Katarína Teplická: Department of Management, Faculty BERG, Technical University of Košice, 040 01 Košice, Slovakia
Samer Khouri: Institute of Earth Resources, Faculty BERG, Technical University of Košice, 040 01 Košice, Slovakia
Ibrahim Mehana: Institute of Earth Resources, Faculty BERG, Technical University of Košice, 040 01 Košice, Slovakia
Ivana Petrovská: Institute of Earth Resources, Faculty BERG, Technical University of Košice, 040 01 Košice, Slovakia

Economies, 2024, vol. 12, issue 10, 1-17

Abstract: The presented article investigates the effects of technical innovations in administrative buildings on the financial side of the business, with a main focus on reducing energy costs and energy consumption. The administrative buildings in a business contribute significantly to the business’s total energy consumption. The basic pillar of Industry 4.0 is the optimization of resources such as energy, which, in production enterprises, represents economic value—costs. The article is orientated to investigate the effect of the technical innovations of administrative buildings on the financial side of the enterprise, with a main focus on reducing energy costs and energy consumption. This research was conducted in Slovakia’s manufacturing sector. In this research, we used economic and financial analysis and economic indicators. This research was conducted between 2019 and 2023. In this period, the results were positive. The results indicated a reduction in energy consumption of 143 GJ (39,722 kWh), reduced energy costs of EUR 6356, reduction in the energy cost structure of 1.3%, and the indicator, the payback period, was determined to be in the range of 6 to 12 years for individual technical innovations. The new design of administrative buildings is an advantage for manufacturing enterprises and can be used as a marketing tool to attract both customers and suppliers. The suggested energy, environmental, and economic sustainability model will allow production enterprises to improve their energy use in administrative buildings.

Keywords: innovations; energy costs; energy consumption; energy management; optimization (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2024
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