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In order to improve the energy performance of buildings, the need to value economically investments of energy efficiency associated with the rehabilitation of dwellings arises. This point of view provides an useful tool for analysts who start in the economic appraisal of energy efficiency investments. The present research gives a conceptual framework for the economic assessment of these types of investments in dwellings. As a result, it is possible to identify two techniques in the appraisals of this nature: dynamic and static approaches. Both methods contrast the benefits (energy savings) with the costs of investments over time. However, they differentiate the opportunity and the moment when investment must be carried out given an uncertainty scenario. This conceptual precision allows the study of several publications where different alternatives in retrofitting houses where evaluated, confirming the considerations that must be taken into account when economic modelling is made: the type of approach to be used (dynamic or static) and; at the definition of the investment alternatives and scenarios, the aspects of time, irrevocability and uncertainty. Resumen En pro de la mejora del desempeno energetico de los edificios, surge la necesidad de evaluar economicamente las inversiones de eficiencia energetica asociadas a la rehabilitacion de viviendas. Este punto de vista trata de ser una herramienta util para analistas que se inicien en la evaluacion economica de inversiones en eficiencia energetica. La presente investigacion muestra un marco conceptual de la evaluacion economica de este tipo de inversiones en viviendas. Como resultado, es posible identificar dos enfoques presentes en los analisis economicos de esta naturaleza: el dinamico y el estatico. Ambos metodos contrastan los beneficios (ahorros energeticos) con los costes de las inversiones en el tiempo. Sin embargo, diferencian la oportunidad y el momento en que la inversion debe realizarse dado un escenario de incertidumbre. Esta precision conceptual permite estudiar varias publicaciones donde se evaluaron diferentes alternativas de reacondicionamiento en viviendas, confirmandose las consideraciones que deben tenerse presentes en momento de realizar la modelacion economica: el tipo de enfoque a usar (dinamico o estatico) y, en la definicion de las alternativas de inversion y escenarios, los aspectos de tiempo, irrevocabilidad e incertidumbre.

Economic assessment of energy efficiency investments in dwellings = Evaluación económica de inversiones de eficiencia energética en viviendas