Determination of Cost-Effective Energy Efficiency Measures in Buildings with the Aid of Multiple Indices

Theodoros Zachariadis, Apostolos Michopoulos, Yannis Vougiouklakis, Katerina Piripitsi, Christodoulos Ellinopoulos and Benjamin Struss
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Theodoros Zachariadis: Department of Environmental Science and Technology, Cyprus University of Technology, 3603 Limassol, Cyprus
Apostolos Michopoulos: Department of Environmental Science and Technology, Cyprus University of Technology, 3603 Limassol, Cyprus
Yannis Vougiouklakis: Deutsche Gesellschaft für International Zusammenarbeit (GIZ), 10192 Athens, Greece
Katerina Piripitsi: Ministry of Energy, Commerce, Industry and Tourism of the Republic of Cyprus, 1421 Nicosia, Cyprus
Christodoulos Ellinopoulos: Ministry of Energy, Commerce, Industry and Tourism of the Republic of Cyprus, 1421 Nicosia, Cyprus
Benjamin Struss: Deutsche Gesellschaft für International Zusammenarbeit (GIZ), 10785 Berlin, Germany

Energies, 2018, vol. 11, issue 1, 1-20

Abstract: Energy refurbishments of buildings can substantially contribute to economy-wide energy efficiency improvements, leading to decarbonisation and additional sustainability benefits. Prioritising the most economically promising investments is not straightforward because apart from cost-effectiveness calculations, several real-world constraints have to be taken into account. This paper describes an approach to assess the economically viable energy efficiency potential in the building sector of the Mediterranean island of Cyprus, with a combination of detailed engineering modelling, cost-effectiveness calculations and real-world considerations of budgetary, technical, behavioural and market constraints. We examine diverse cost-effectiveness indices and come up with a proposal for prioritising specific energy investments such as the installation of heat pumps, insulation of roofs, and replacement of lighting and electronic equipment—without however ignoring other measures that may be economically less favourable but can realistically be implemented in a limited number of buildings. Finally we address the governance of energy efficiency policies, focusing on weaknesses of the current regulatory environment in Cyprus, which can be generalised for many other countries facing similar dilemmas.

Keywords: avoidance cost; cost-effectiveness; energy refurbishment; energy savings; payback period (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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