Climate change requires an innovative approach to retrofitting current built environments. This study tackles the significant intersection among lasting technologies, and financial models in the context of sustainable retrofitting. The issue at hand pertains to the necessity for feasible plans to grab and exploit amplified value resulting from sustainable retrofitting procedures.
Using a mixed-methods approach, this research applies qualitative and quantitative methodologies. Qualitative techniques entail case studies and exploratory analyses, offering insights into success factors, and best practices. Quantitative methods, like the Total Cost of Ownership (TCO) financial modelling, assess the financial value of sustainable retrofit initiatives.
The primary objectives of this study are to comprehensively understand the intricate dynamics of individual and/ or collective Sustainable Energy Technologies (SETs) in retrofit practices at the neighbourhood level and will analyse whether implementing SETs on a building-by-building basis or at the neighbourhood level, or a combination of both, is preferable. The anticipated outcomes consist of a report consisting of literature review, case study, and comprehensive TCO model. These outputs aim to offer a robust framework for stakeholders include investors, policymakers, end-users, and others involved, facilitating informed decision-making and rule-setting regarding individual and/or collective SETs in retrofit projects.
Key findings from the TCO analysis show that collective systems become cost-effective beyond approximately 60 units due to economies of scale. In addition, the study highlights the critical role of accurate cost estimation, financial planning, and improved data transparency in SET implementation.
This research advances methodologies for assessing retrofits and lays the groundwork for sustainable building practices. By examining theoretical frameworks and practical applications, it paves the way for a more refined approach to sustainable retrofitting.