View in EDS HTML Full Text PDF Full Text

A Scalable and Standardized Methodology for the Comparative Cost–Benefit Evaluation of Smart Readiness Indicator (SRI) Technologies Across Europe.

Saved in:
Bibliographic Details
Title: A Scalable and Standardized Methodology for the Comparative Cost–Benefit Evaluation of Smart Readiness Indicator (SRI) Technologies Across Europe.
Authors: Ersener, Turkay1 (AUTHOR), Koukaras, Paraskevas2,3 (AUTHOR), Ioannidis, Dimosthenis2,3 (AUTHOR), Tjortjis, Christos1,3 (AUTHOR), Ioannou, Byron1,2 (AUTHOR), Fokaides, Paris1,3 (AUTHOR) eng.fp@frederick.ac.cy
Source: Energies (19961073). Nov2025, Vol. 18 Issue 21, p5825. 15p.
Subjects: Cost benefit analysis, Smart devices, Cost effectiveness, Contextual analysis, Sustainable development, Built environment, Energy consumption, Sustainable Development Goals (United Nations)
Geographic Terms: Netherlands, Europe, Italy
Abstract: As the importance of energy efficiency and smart readiness in the building sector has been on the rise, the financial evaluation of smart-ready technologies (SRTs) remains a gap in this field. This study introduces a methodology that comparatively evaluates the cost–benefit relationship between 11 different SRTs across three European countries—Cyprus, Italy and The Netherlands. Key performance indicators (KPIs) for energy-focused aspects such as Country-Specific Energy Savings Potential (CSESP) and Seasonal Smart Efficiency Coefficient (SSEC) and financial aspects such as Smart Readiness Cost Index (SRCI), Labor Cost Impact Factor (LCIF), Return on Smart Investment (RoSI), and Smart Investment Break-Even Period (SIBEP) were used to quantify the performance of the SRTs. The results indicate that regional labor rates, energy pricing, and climatic conditions—as well as relative technology cost–benefit tradeoffs—play a significant role in the economic viability of smart-ready devices. Having low labor costs and energy pricing, Cyprus exhibited the most cost-effective outcomes among the three countries. Italy showed strong returns although the initial investments were higher. The Netherlands was observed to benefit the most from heating-oriented technologies. The study comes to the conclusion that regionally specific methods are necessary for the adoption of SRTs and that techno-economic performance cannot be assessed separately from local market dynamics. The proposed framework supports stakeholders and policymakers in smart building investment and planning by offering a scalable method for device-level benchmarking. These indicators are developed specifically for this study and are not part of the official EU SRI (Smart Readiness Indicator) methodology. Their inclusion supports device-level evaluation and complements ongoing efforts toward SRI standardization. This research directly addresses Sustainable Development Goal (SDG) 7 on Affordable and Clean Energy, as well as SDG 11 on Sustainable Development, by evaluating how smart-ready technologies can contribute to energy efficiency and decarbonization in buildings. Based on the results, further research is needed to expand the indicator framework to additional technologies, include building typology effects, and integrate dynamic factors such as CO2 pricing and real-time tariffs. [ABSTRACT FROM AUTHOR]
Copyright of Energies (19961073) is the property of MDPI and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Engineering Source
Full text is not displayed to guests.
FullText Links:
  – Type: pdflink
Text:
  Availability: 1
Header DbId: egs
DbLabel: Engineering Source
An: 189611084
AccessLevel: 6
PubType: Academic Journal
PubTypeId: academicJournal
PreciseRelevancyScore: 0
IllustrationInfo
Items – Name: Title
  Label: Title
  Group: Ti
  Data: A Scalable and Standardized Methodology for the Comparative Cost–Benefit Evaluation of Smart Readiness Indicator (SRI) Technologies Across Europe.
– Name: Author
  Label: Authors
  Group: Au
  Data: <searchLink fieldCode="AR" term="%22Ersener%2C+Turkay%22">Ersener, Turkay</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Koukaras%2C+Paraskevas%22">Koukaras, Paraskevas</searchLink><relatesTo>2,3</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Ioannidis%2C+Dimosthenis%22">Ioannidis, Dimosthenis</searchLink><relatesTo>2,3</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Tjortjis%2C+Christos%22">Tjortjis, Christos</searchLink><relatesTo>1,3</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Ioannou%2C+Byron%22">Ioannou, Byron</searchLink><relatesTo>1,2</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Fokaides%2C+Paris%22">Fokaides, Paris</searchLink><relatesTo>1,3</relatesTo> (AUTHOR)<i> eng.fp@frederick.ac.cy</i>
– Name: TitleSource
  Label: Source
  Group: Src
  Data: <searchLink fieldCode="JN" term="%22Energies+%2819961073%29%22">Energies (19961073)</searchLink>. Nov2025, Vol. 18 Issue 21, p5825. 15p.
– Name: Subject
  Label: Subjects
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Cost+benefit+analysis%22">Cost benefit analysis</searchLink><br /><searchLink fieldCode="DE" term="%22Smart+devices%22">Smart devices</searchLink><br /><searchLink fieldCode="DE" term="%22Cost+effectiveness%22">Cost effectiveness</searchLink><br /><searchLink fieldCode="DE" term="%22Contextual+analysis%22">Contextual analysis</searchLink><br /><searchLink fieldCode="DE" term="%22Sustainable+development%22">Sustainable development</searchLink><br /><searchLink fieldCode="DE" term="%22Built+environment%22">Built environment</searchLink><br /><searchLink fieldCode="DE" term="%22Energy+consumption%22">Energy consumption</searchLink><br /><searchLink fieldCode="DE" term="%22Sustainable+Development+Goals+%28United+Nations%29%22">Sustainable Development Goals (United Nations)</searchLink>
– Name: SubjectGeographic
  Label: Geographic Terms
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Netherlands%22">Netherlands</searchLink><br /><searchLink fieldCode="DE" term="%22Europe%22">Europe</searchLink><br /><searchLink fieldCode="DE" term="%22Italy%22">Italy</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: As the importance of energy efficiency and smart readiness in the building sector has been on the rise, the financial evaluation of smart-ready technologies (SRTs) remains a gap in this field. This study introduces a methodology that comparatively evaluates the cost–benefit relationship between 11 different SRTs across three European countries—Cyprus, Italy and The Netherlands. Key performance indicators (KPIs) for energy-focused aspects such as Country-Specific Energy Savings Potential (CSESP) and Seasonal Smart Efficiency Coefficient (SSEC) and financial aspects such as Smart Readiness Cost Index (SRCI), Labor Cost Impact Factor (LCIF), Return on Smart Investment (RoSI), and Smart Investment Break-Even Period (SIBEP) were used to quantify the performance of the SRTs. The results indicate that regional labor rates, energy pricing, and climatic conditions—as well as relative technology cost–benefit tradeoffs—play a significant role in the economic viability of smart-ready devices. Having low labor costs and energy pricing, Cyprus exhibited the most cost-effective outcomes among the three countries. Italy showed strong returns although the initial investments were higher. The Netherlands was observed to benefit the most from heating-oriented technologies. The study comes to the conclusion that regionally specific methods are necessary for the adoption of SRTs and that techno-economic performance cannot be assessed separately from local market dynamics. The proposed framework supports stakeholders and policymakers in smart building investment and planning by offering a scalable method for device-level benchmarking. These indicators are developed specifically for this study and are not part of the official EU SRI (Smart Readiness Indicator) methodology. Their inclusion supports device-level evaluation and complements ongoing efforts toward SRI standardization. This research directly addresses Sustainable Development Goal (SDG) 7 on Affordable and Clean Energy, as well as SDG 11 on Sustainable Development, by evaluating how smart-ready technologies can contribute to energy efficiency and decarbonization in buildings. Based on the results, further research is needed to expand the indicator framework to additional technologies, include building typology effects, and integrate dynamic factors such as CO2 pricing and real-time tariffs. [ABSTRACT FROM AUTHOR]
– Name: AbstractSuppliedCopyright
  Label:
  Group: Ab
  Data: <i>Copyright of Energies (19961073) is the property of MDPI and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=egs&AN=189611084
RecordInfo BibRecord:
  BibEntity:
    Identifiers:
      – Type: doi
        Value: 10.3390/en18215825
    Languages:
      – Code: eng
        Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 15
        StartPage: 5825
    Subjects:
      – SubjectFull: Cost benefit analysis
        Type: general
      – SubjectFull: Smart devices
        Type: general
      – SubjectFull: Cost effectiveness
        Type: general
      – SubjectFull: Contextual analysis
        Type: general
      – SubjectFull: Sustainable development
        Type: general
      – SubjectFull: Built environment
        Type: general
      – SubjectFull: Energy consumption
        Type: general
      – SubjectFull: Sustainable Development Goals (United Nations)
        Type: general
      – SubjectFull: Netherlands
        Type: general
      – SubjectFull: Europe
        Type: general
      – SubjectFull: Italy
        Type: general
    Titles:
      – TitleFull: A Scalable and Standardized Methodology for the Comparative Cost–Benefit Evaluation of Smart Readiness Indicator (SRI) Technologies Across Europe.
        Type: main
  BibRelationships:
    HasContributorRelationships:
      – PersonEntity:
          Name:
            NameFull: Ersener, Turkay
      – PersonEntity:
          Name:
            NameFull: Koukaras, Paraskevas
      – PersonEntity:
          Name:
            NameFull: Ioannidis, Dimosthenis
      – PersonEntity:
          Name:
            NameFull: Tjortjis, Christos
      – PersonEntity:
          Name:
            NameFull: Ioannou, Byron
      – PersonEntity:
          Name:
            NameFull: Fokaides, Paris
    IsPartOfRelationships:
      – BibEntity:
          Dates:
            – D: 01
              M: 11
              Text: Nov2025
              Type: published
              Y: 2025
          Identifiers:
            – Type: issn-print
              Value: 19961073
          Numbering:
            – Type: volume
              Value: 18
            – Type: issue
              Value: 21
          Titles:
            – TitleFull: Energies (19961073)
              Type: main
ResultId 1