Economic analysis of deep thermomodernization of the building

Purpose: The aim of this paper is to examine the multifaceted field of deep thermomodernization of the 11-storey hotel building located in Bialystok, with an emphasis on unraveling the complex interaction between energy efficiency and economic considerations. Design/methodology/approach: Today, there are several methods used to gauge the most effective ways of cutting energy demand, including Simply Pay Back Time (SPBT), Pay Back Time (PBT), Net Present Value (NPV), Net Present Value Ratio (NPVR), Internal Rate of Return (IRR), and Dynamic Pay Back Time (DPBT). In Poland, studies mostly based on SPBT due to its precision and accuracy, which offers clearer and more reliable outcomes compared to other methods. However, combining multiple methods can enhance result clarity and reliability even further. During examination, we initially used SPBT to assess the impacts of energy- saving measures, resulting in clear and dependable insights into efficiency improvements. Findings: Total energy gain after deep thermomodernization is 42%. It shows that after the implementation of deep thermomodernization, annual heating expenditures were reduced by almost half (by 41%). The simple payback time (SPBT) for individual thermal modernization projects ranged from 4,32 years for external walls to 15,41 years for external doors and 13.74 years for ventilated flat roof and 10,34 for windows. Practical implications: Our research efforts have made our building more durable and valuable. Additionally, we have economized our building by minimizing energy consumption and reducing annual heating costs as much as possible. Social implications: Deep thermomodernization can reduce energy costs, increase environmental awareness, and improve quality of life by increasing society's energy efficiency. This can reinforce a sense of social responsibility and shape environmental policies. Change can be achieved in the industry by encouraging it through public policy. Originality/value: Research has shown that as technology advances, it should also be reflected in the construction sector. Instead of demolishing old buildings and rebuilding, which is costly and environmentally unfriendly, deep thermomodernization offers a more economical and eco- friendly solution for renovation. Calculations and comparisons have pointed to its effectiveness. Keywords: Energy savings, investment costs, economic analysis. Category of the paper: Research paper.