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Deep energy renovation strategies: A real option approach for add-ons in a social housing case study.
- Source :
-
Energy & Buildings . Feb2018, Vol. 161, p1-9. 9p. - Publication Year :
- 2018
-
Abstract
- In this paper a techno-economic evaluation method for deep renovation of buildings is introduced. We study the validation of an integrated design methodology based upon the creation of additional volume on existing buildings (Add-Ons) intended as roof-top or aside extensions, enclosures, parasites or façade transformations. Energy price uncertainty is modelled through a mean-reverting stochastic process, which well fits the data for natural gas prices, and the proposed evaluation method is based on real-option theory, which is an advancement of standard cost-benefit analysis, to be employed whenever uncertainty has a significant impact on the investment option. The new method to evaluate the economical feasibility of the Add-ons strategy for Deep Energy Renovation is tested through design experiments on a real case study of social housing in Reggio Emilia (Italy). [ABSTRACT FROM AUTHOR]
- Subjects :
- *HOME energy costs
*REAL options (Finance)
*HOME remodeling
*ELECTRIC rates
Subjects
Details
- Language :
- English
- ISSN :
- 03787788
- Volume :
- 161
- Database :
- Academic Search Index
- Journal :
- Energy & Buildings
- Publication Type :
- Academic Journal
- Accession number :
- 127284909
- Full Text :
- https://doi.org/10.1016/j.enbuild.2017.11.044