Evolution of the Payback Period for Energy-Efficient Residential Buildings in Romania in the Last Decade

Szilárd Karda (), Tamás Nagy-György and Iosif Boros
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Szilárd Karda: Department of Civil Engineering and Building Services, Faculty of Construction, Politehnica University of Timișoara, Victoriei Square, No. 2, 300006 Timișoara, Romania
Tamás Nagy-György: Department of Civil Engineering and Building Services, Faculty of Construction, Politehnica University of Timișoara, Victoriei Square, No. 2, 300006 Timișoara, Romania
Iosif Boros: Boros Cons S.R.L., Gheorghe Pituț Street, No. 2, bl. Z2, sc. B, ap. 5, 415200 Beiuș, Romania

Sustainability, 2023, vol. 15, issue 11, 1-19

Abstract: The European Union set ambitious targets to achieve climate neutrality by 2050, and one of the measures taken towards this goal was the implementation of nearly Zero-Energy Buildings. Despite the commitments of the EU member states, many householders and investors had a disposition to incredulity regarding the energy efficiency of the buildings due to the higher cost of the investment and the relatively long payback time. However, at the end of 2021, the energy crisis significantly rewrote the circumstances, and energy prices and the costs of construction materials began to rise. In this situation, it was necessary to reconsider the importance of energy efficiency for buildings due to the maintenance costs. This article aims to assess changes in payback periods over the past 13 years and conduct life cycle cost evaluations by comparing energy-efficient residential buildings with traditional houses. The analysis considers variations in construction materials and labor costs in Romania, as well as energy price changes during the building’s operational phase. Through these methodologies, it has been demonstrated that the implementation of energy-efficient buildings offers a cost-effective solution already in the medium term, providing incentives for investors and future houseowners to reduce their dependence on energy and pursue long-term decarbonization.

Keywords: construction cost; energy; energy efficiency; nZEB buildings; payback period (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:11:p:8986-:d:1162537

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