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According to the European Commission Energy Union strategy from 2015, some of the main objectives are to improve energy efficiency, reduce dependence on energy imports, cut emissions, and drive jobs and growth. Achieving the objectives of the Energy Union requires significant financing, particularly for investments in energy efficiency. Serbia and Croatia included the objectives of the Energy Union in their national strategies and have implemented various investment projects in this area. This paper focuses on the sustainability of energy efficiency projects for public buildings which include not only energy efficiency investment cost but also non-energy efficiency investments. By applying the European Commission methodology for cost-benefit analysis, we assessed the sustainability of several projects in Serbia and Croatia. The sustainability assessment is done by quantifying energy savings, greenhouse gas emission reductions and the social and economic benefits that are related to non-energy efficiency project components. The values of economic performance indicators imply that society would be better off with projects that would contribute to achieving not only the targets set in national energy strategies but also to creating broader social benefits.
Mališa Đukić; Margareta Zidar. Sustainability of Investment Projects with Energy Efficiency and Non-Energy Efficiency Costs: Case Examples of Public Buildings. Sustainability 2021, 13, 5837 .
AMA StyleMališa Đukić, Margareta Zidar. Sustainability of Investment Projects with Energy Efficiency and Non-Energy Efficiency Costs: Case Examples of Public Buildings. Sustainability. 2021; 13 (11):5837.
Chicago/Turabian StyleMališa Đukić; Margareta Zidar. 2021. "Sustainability of Investment Projects with Energy Efficiency and Non-Energy Efficiency Costs: Case Examples of Public Buildings." Sustainability 13, no. 11: 5837.
To prevent the environment from being adversely affected by the disposal of insufficiently-treated wastewater, the European Urban Wastewater Directive (Directives 91/271/EEC and 98/15/EEC) emphasizes the need for secondary or more stringent treatment of urban wastewater in sensitive areas. The EU Water Framework Directive (Directive 2000/60/EC) stresses the role of economic analysis to prevent the degradation and depletion of water resources. The wastewater treatment process results in external benefits that should be quantified in order to assess the economic feasibility of a proposed project. The principle of full cost recovery and “the polluter pays” principle are to be pursued. Using the European Commission methodology for cost-benefit analysis, economic performance indicators of an infrastructure project in Serbia requiring tertiary treatment of wastewater in a sensitive area are calculated. To ensure a financial sustainability, the authors assessed a cost-reflective tariff to be introduced following the start of wastewater treatment plant operations. The economic net present value is positive, while the economic internal rate of return is greater than the social discount rate. Full cost recovery implies a significant tariff increase that should be taken into account by water authorities and companies as the project should not be only economically feasible, but also socially affordable.
Malisa Djukic; Iljcho Jovanoski; Olja Munitlak Ivanovic; Milena Lazic; Dusko Bodroza. Cost-benefit analysis of an infrastructure project and a cost-reflective tariff: A case study for investment in wastewater treatment plant in Serbia. Renewable and Sustainable Energy Reviews 2016, 59, 1419 -1425.
AMA StyleMalisa Djukic, Iljcho Jovanoski, Olja Munitlak Ivanovic, Milena Lazic, Dusko Bodroza. Cost-benefit analysis of an infrastructure project and a cost-reflective tariff: A case study for investment in wastewater treatment plant in Serbia. Renewable and Sustainable Energy Reviews. 2016; 59 ():1419-1425.
Chicago/Turabian StyleMalisa Djukic; Iljcho Jovanoski; Olja Munitlak Ivanovic; Milena Lazic; Dusko Bodroza. 2016. "Cost-benefit analysis of an infrastructure project and a cost-reflective tariff: A case study for investment in wastewater treatment plant in Serbia." Renewable and Sustainable Energy Reviews 59, no. : 1419-1425.