Abstract
In this study, the economic feasibility of green remodeling (GR), which could improve the health, safety, and energy of elderly households considering social cost, was analyzed. As a result, the net present value of GR was ‘−10,267 USD (49.7%)’, which was found to be uneconomical compared to the total construction cost (20,981 USD, 100%) despite benefits of energy saving, carbon reduction, and air pollutant reduction. Based on this result, in order to expand GR for low-income elderly households, who cannot afford to perform GR, a GR support measure linked to the currently implemented energy conversion and old-age housing support policies was proposed. It allows the government to perform GR for low-income elderly households with 1/4 of the total construction cost. This result could revitalize GR to reduce greenhouse gas and contribute to housing stability for low-income elderly households who are vulnerable to COVID-19 and climate change.
Highlights
From the 59% of health, safety, and energy saving construction cost, the energy saving cost incurred during the operation period is 43.2%, which is directly returned to the resident as a benefit generated while the resident continues to live in the property after green remodeling (GR)
15.8% of the actual cost is supported by the government for health, safety, and energy saving construction costs, but 7.7% is offset by the environmental improvement effect, so it can be estimated that only 8.1% would be supported
It is possible to reduce the burden of construction cost for the GR implementation of low-income elderly households, and to increase the effect of improving facilities in aged houses from GR
Summary
Due to the global COVID-19 pandemic from the end of 2019, “untact”, non-face-to-face society (business, education, shipping, etc.), and non-face-to-face services (food, goods, drive-thru shopping, etc.) have quickly been established in Korea as the New Normal [3] These social changes increase the staying time of residents in buildings, and they emphasize the importance of indoor environment (temperature/humidity/ventilation) and air quality, which directly affect human health [4]. Insulation, windows, high-efficiency air conditioning systems (boiler/EHP), and total heat exchange ventilation systems are actively used as the elementary technologies of GR (Green Remodeling) for improving the energy performance of old buildings. ‘GR’ in this paper includes deep energy retrofitting, such as improving insulation, windows, air condition, ventilation, etc., rather than a single measurement for performance improvement
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