Financial challenges and risk assessment for building renovation in nZEB standard: A case study

Deep energy renovation of buildings is a key process for meeting national energy efficiency targets and fulfilling the EU Green Deal objectives within the building sector. Although this process involves numerous challenges, barriers, and risks, the most critical factors affecting the implementation of energy efficiency measures are related to financing and the feasibility of renovation projects. Given the complexity of these renovations, a step-by-step approach has been adopted to achieve deep energy renovation, aiming to meet at least the nearly Zero Energy Building (nZEB) standard by 2030, and the Zero Energy Building (ZEB) standard thereafter. This paper analyses the financial challenges and risks associated with deep energy renovation projects that achieved nZEB standard, based on a case study of the administrative building of the Energy Institute Hrvoje Požar in Zagreb. The case is also compared with other administrative building renovation projects in Croatia. The insights gained from this case contribute to the future planning and preparation of procurement phases for products, services, construction works, and high-performance building renovations, with the goal of achieving substantial energy savings and generating wider economic, environmental, and social benefits.