Economic assessment of energy efficiency investments in dwellings = Evaluación económica de inversiones de eficiencia energética en viviendas

Hector Hernández



In order to improve the energy performance of buildings, the need to value economically investments of energy efficiency associated with the rehabilitation of dwellings arises. This point of view provides an useful tool for analysts who start in the economic appraisal of energy efficiency investments. The present research gives a conceptual framework for the economic assessment of these types of investments in dwellings. As a result, it is possible to identify two techniques in the appraisals of this nature: dynamic and static approaches. Both methods contrast the benefits (energy savings) with the costs of investments over time. However, they differentiate the opportunity and the moment when investment must be carried out given an uncertainty scenario. This conceptual precision allows the study of several publications where different alternatives in retrofitting houses where evaluated, confirming the considerations that must be taken into account when economic modelling is made: the type of approach to be used (dynamic or static) and; at the definition of the investment alternatives and scenarios, the aspects of time, irrevocability and uncertainty.


En pro de la mejora del desempeño energético de los edificios, surge la necesidad de evaluar económicamente las inversiones de eficiencia energética asociadas a la rehabilitación de viviendas. Este punto de vista trata de ser una herramienta útil para analistas que se inicien en la evaluación económica de inversiones en eficiencia energética. La presente investigación muestra un marco conceptual de la evaluación económica de este tipo de inversiones en viviendas. Como resultado, es posible identificar dos enfoques presentes en los análisis económicos de esta naturaleza: el dinámico y el estático. Ambos métodos contrastan los beneficios (ahorros energéticos) con los costes de las inversiones en el tiempo. Sin embargo, diferencian la oportunidad y el momento en que la inversión debe realizarse dado un escenario de incertidumbre. Esta precisión conceptual permite estudiar varias publicaciones donde se evaluaron diferentes alternativas de reacondicionamiento en viviendas, confirmándose las consideraciones que deben tenerse presentes en momento de realizar la modelación económica: el tipo de enfoque a usar (dinámico o estático) y, en la definición de las alternativas de inversión y escenarios, los aspectos de tiempo, irrevocabilidad e incertidumbre.


Dwelling efficiency energy; Energy efficiency investments; Energy retrofit; Economic appraisal; Eficiencia energética de la vivienda; Inversiones en eficiencia energética; Reacondicionamiento energético; Evaluación económica


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