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Most renewable energy projects have 5-8 year paybacks (the exact number depends on countries), while many energy efficiency projects have paybacks fewer than 2 years (regardless of the country)
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The payback period for both types of projects is influenced by various factors such as the initial investment cost, expected energy savings, and local cost of energy.
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https://www.events2hvac.com/post/energy-projects-payback-comparison
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Energy-efficient retrofitting involves implementing various technologies to reduce energy consumption and improve overall efficiency. These may include upgrading insulation, optimizing heating, ventilation, and air conditioning (HVAC) systems, and integrating renewable energy sources.
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https://eco.gov.capital/what-is-the-payback-period-for-energy-efficient-retrofitting-investments/
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Because of gradually increasing inflation, if energy prices did not increase, calculating the time (e.g., number of years) for payback by simply dividing additional cost by annual savings would understate the actual payback period
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https://energizeohio.osu.edu/sites/energizeohio/files/d6/files/imce/PM-2089S.pdf
