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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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    References listed on IDEAS

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    1. Georgopoulou, E. & Sarafidis, Y. & Mirasgedis, S. & Balaras, C.A. & Gaglia, A. & Lalas, D.P., 2006. "Evaluating the need for economic support policies in promoting greenhouse gas emission reduction measures in the building sector: The case of Greece," Energy Policy, Elsevier, vol. 34(15), pages 2012-2031, October.
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