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Economic evaluation of energy saving measures in a common type of Greek building

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  • Nikolaidis, Yiannis
  • Pilavachi, Petros A.
  • Chletsis, Alexandros

Abstract

This paper deals with the economic analysis and evaluation of various energy saving measures in the building sector, focusing on a domestic detached house in Greece, i.e. in a typical Mediterranean climate. In order to detect the energy saving measures that, in addition to energy benefits, can also provide economic profits, the study examines the following measures: all kinds of insulation; upgrading of the heating system; use of thermal solar systems; upgrading of lighting; upgrading of electric appliances; upgrading of the cooling system. The economic evaluation methods used for ranking the energy saving measures are the Net Present Value, the Internal Rate of Return, the Savings to Investment Ratio and the Depreciated Payback Period. It has been found that amongst the most effective energy saving methods are the upgrading of lighting, the insulation of the roof of the building and the installation of an automatic temperature control system.

Suggested Citation

  • Nikolaidis, Yiannis & Pilavachi, Petros A. & Chletsis, Alexandros, 2009. "Economic evaluation of energy saving measures in a common type of Greek building," Applied Energy, Elsevier, vol. 86(12), pages 2550-2559, December.
    • Handle: RePEc:eee:appene:v:86:y:2009:i:12:p:2550-2559
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    5. Baldwin, Andrew N. & Loveday, Dennis L. & Li, Baizhan & Murray, Michael & Yu, Wei, 2018. "A research agenda for the retrofitting of residential buildings in China – A case study," Energy Policy, Elsevier, vol. 113(C), pages 41-51.
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    14. Axaopoulos, Ioannis & Axaopoulos, Petros & Panayiotou, Gregoris & Kalogirou, Soteris & Gelegenis, John, 2015. "Optimal economic thickness of various insulation materials for different orientations of external walls considering the wind characteristics," Energy, Elsevier, vol. 90(P1), pages 939-952.
    15. Gilani, Syed Ihtsham ul Haq & Aris, Mohd Shiraz & Bhaskoro, Petrus Tri, 2014. "Energy saving technique for cooling dominated academic building: Techno-economic analysis of its application," Applied Energy, Elsevier, vol. 132(C), pages 192-199.
    16. Copiello, Sergio, 2015. "Achieving affordable housing through energy efficiency strategy," Energy Policy, Elsevier, vol. 85(C), pages 288-298.
    17. Yaser Alaiwi & Azher M Abed & Ghassan Fadhil Smaisim & Mohamed Aly Saad Aly & Salema K Hadrawi & Reza Morovati, 2023. "Simulation and investigation of bioethanol production considering energetic and economic considerations," International Journal of Low-Carbon Technologies, Oxford University Press, vol. 18, pages 191-203.
    18. Radhi, Hassan, 2012. "Trade-off between environmental and economic implications of PV systems integrated into the UAE residential sector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(5), pages 2468-2474.
    19. Gupta, A. & Anand, Y. & Tyagi, S.K. & Anand, S., 2016. "Economic and thermodynamic study of different cooling options: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 62(C), pages 164-194.
    20. Salata, Ferdinando & Golasi, Iacopo & di Salvatore, Maicol & de Lieto Vollaro, Andrea, 2016. "Energy and reliability optimization of a system that combines daylighting and artificial sources. A case study carried out in academic buildings," Applied Energy, Elsevier, vol. 169(C), pages 250-266.
    21. Song, Xiangnan & Lu, Yujie & Shen, Liyin & Shi, Xunpeng, 2018. "Will China's building sector participate in emission trading system? Insights from modelling an owner's optimal carbon reduction strategies," Energy Policy, Elsevier, vol. 118(C), pages 232-244.
    22. Hong, Taehoon & Koo, Choongwan & Jeong, Kwangbok, 2012. "A decision support model for reducing electric energy consumption in elementary school facilities," Applied Energy, Elsevier, vol. 95(C), pages 253-266.
    23. Llovera, Jordi & Potau, Xavi & Medrano, Marc & Cabeza, Luisa F., 2011. "Design and performance of energy-efficient solar residential house in Andorra," Applied Energy, Elsevier, vol. 88(4), pages 1343-1353, April.
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