Journal
SUSTAINABILITY
Volume 13, Issue 11, Pages -Publisher
MDPI
DOI: 10.3390/su13115837
Keywords
investment projects; financial analysis; economic analysis; energy efficiency; public buildings; sustainability
Funding
- SmartCity.Energy& Environment project Competence centre for Smart Cities, implemented in Croatia [KK.01.2.2.03.0004]
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The Energy Union strategy by the European Commission aims to improve energy efficiency, reduce dependence on energy imports, cut emissions, and drive jobs and growth, requiring significant financing. Serbia and Croatia have integrated the Energy Union objectives into their national strategies and implemented various energy efficiency investment projects, contributing to broader social benefits. The sustainability assessment of these projects involves quantifying energy savings, greenhouse gas emission reductions, and social and economic benefits related to non-energy efficiency components.
According to the European Commission Energy Union strategy from 2015, some of the main objectives are to improve energy efficiency, reduce dependence on energy imports, cut emissions, and drive jobs and growth. Achieving the objectives of the Energy Union requires significant financing, particularly for investments in energy efficiency. Serbia and Croatia included the objectives of the Energy Union in their national strategies and have implemented various investment projects in this area. This paper focuses on the sustainability of energy efficiency projects for public buildings which include not only energy efficiency investment cost but also non-energy efficiency investments. By applying the European Commission methodology for cost-benefit analysis, we assessed the sustainability of several projects in Serbia and Croatia. The sustainability assessment is done by quantifying energy savings, greenhouse gas emission reductions and the social and economic benefits that are related to non-energy efficiency project components. The values of economic performance indicators imply that society would be better off with projects that would contribute to achieving not only the targets set in national energy strategies but also to creating broader social benefits.
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