In a groundbreaking study published in the journal *Energies* (which translates to “Energies” in English), researchers have developed a novel methodology to evaluate the cost-benefit relationship of smart-ready technologies (SRTs) across different European regions. Led by Turkay Ersener from the School of Engineering at Frederick University in Cyprus, the research provides a scalable and standardized approach to assessing the economic viability of SRTs, offering valuable insights for stakeholders and policymakers in the energy sector.
The study, which focuses on 11 different SRTs across Cyprus, Italy, and the Netherlands, introduces key performance indicators (KPIs) such as the Country-Specific Energy Savings Potential (CSESP) and the Smart Readiness Cost Index (SRCI). These indicators help quantify the performance of SRTs in terms of energy savings and financial impact. “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,” Ersener explains.
The findings reveal that Cyprus, with its low labor costs and energy pricing, exhibited the most cost-effective outcomes among the three countries. Italy, despite higher initial investments, showed strong returns, while the Netherlands benefited the most from heating-oriented technologies. “This research underscores the importance of regionally specific methods for the adoption of SRTs,” Ersener notes. “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, developed specifically for this study, complement ongoing efforts toward SRI standardization and directly address Sustainable Development Goal (SDG) 7 on Affordable and Clean Energy, as well as SDG 11 on Sustainable Development.
The research highlights the need for further studies to expand the indicator framework to additional technologies, include building typology effects, and integrate dynamic factors such as CO2 pricing and real-time tariffs. As the building sector continues to prioritize energy efficiency and smart readiness, this methodology provides a crucial tool for evaluating the financial implications of SRTs, ultimately shaping future developments in the field.
With its focus on cost–benefit analysis and lifecycle cost assessment, this study offers a comprehensive approach to understanding the economic viability of smart-ready technologies. As the energy sector continues to evolve, the insights provided by this research will be invaluable for stakeholders seeking to make informed investment decisions and drive the adoption of smart-ready technologies across Europe and beyond.