Achieving Maximum Smart Readiness Indicator Scores: A Financial Analysis with an In-Depth Feasibility Study in Non-Ideal Market Conditions

Abstract

For European competitiveness, energy efficiency must be increased. An important part of energy efficiency depends on an efficient building stock—the sector with the greatest potential for energy savings, as more than a third of all primary energy is consumed in buildings. A new instrument, the smart readiness indicator (SRI), is being prepared to accelerate the implementation of smart solutions in buildings and establish a market that would require and accelerate the implementation of such solutions. In this paper, we examine how the SRI score of a shopping center (with an already relatively advanced automation system) changes if we perform an energy optimization worth approximately 6.6 million EUR. As all the upgrades suggested by the SRI methodology cannot be implemented, this paper is the first of its kind to define the maximum feasible SRI score. The necessary measures are elaborated comprehensively, analyzed, and evaluated both technically and financially (IRR, ROI, and payback time). This type of approach is suitable for less developed EU markets without smart grids, DSM, and predictive functions.

Keywords

• smart systems readiness indicator (SRI)
• methodology
• smart systems
• real estate energy renovations
• energy efficiency
• financial analysis