Abstract
With the improvement of China’s economic strength, the energy consumption of public buildings is continually increasing, notably for hotels. The energy consumptin of a hotel accounts for more than 15% of its revenue, and the average energy consumption per floor area is more than 10 times that of urban residents. Therefore, the energy-saving retrofit of existing hotels is imperative. This study investigates the economic evaluation methods for existing hotel retrofit projects, and constructs an economic evaluation model using economic evaluation and cost-effectiveness ratio as the base. The energy-saving retrofit measures of 15 existing hotels in Jiangsu Province, China, are used as a case study to demonstrate the research framework. The results indicate that the heating, ventilation and air conditioning (HVAC) system, monitoring system, lighting system, domestic hot water system, and building envelope system are the five energy-saving retrofit technical measures with the highest application ratio. The average dynamic investment payback period of hotels in Jiangsu Province is 2.96 years, which meets the requirement of no more than 10 years specified in the energy-saving building standard. The cost-effectiveness ratio of different technologies differs significantly. Lighting and kitchen systems have the highest energy-saving efficiency, followed by monitoring systems, while HVAC and domestic hot water systems have the lowest. The research presented in this paper contributes to the economic evaluation of the energy-saving retrofit of hotels.
Highlights
The energy-saving retrofit of existing buildings refers to the activities of implementing energy-saving retrofit of heating, ventilation and air conditioning (HVAC) systems, monitoring systems, lighting systems, domestic hot water systems, and building envelope systems [1] of existing buildings that do not meet the mandatory standards for energy savings in civil buildings
During the economic life of an energy-saving building, the energy-saving gains obtained due to the reduction of energy consumption minus the energy-saving retrofit costs are expressed by the cumulative net cash flow (ANCFt ), and the calculation is represented by Formula (4)
The energy-saving retrofit cost, I0, is calculated according to Formula (1), in which the unit price and unit construction cost price of energy-saving materials refer to the comprehensive unit price in May 2018 in Jiangsu Province [47], and the types and quantities of energy-saving materials are derived from the post-evaluation report
Summary
Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. The life cycle of an energy-saving retrofit project for existing public buildings can be divided into the four stages mentioned above [20]. According to Economic Evaluation Methods and Parameters of Construction Projects (Third Edition) issued by the Ministry of Construction, retrofit and expansion projects can be evaluated by cost–benefit analysis, and its evaluation criteria follow the principle of “with or without comparison” [27] This approach uses the benefits and costs of “with projects” and “without projects” to calculate incremental benefits and costs, which can be used to analyze the incremental profitability of projects and serve as one of the main bases for project decision-making. The energy-saving retrofit measures of 15 existing hotels in Jiangsu Province, China, are used as a case study to demonstrate the research framework
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