Enhancing Smart Readiness through Simplified Financial Indicators

This paper introduces a novel approach to bridge the gap between the technical complexity and financial implications of smart readiness technologies in buildings. By developing simplified financial and technical indicators, our work provides a foundational framework for a comprehensive SRT (Smart Readiness Technology) Catalogue aimed at facilitating the integration and understanding of Smart Readiness Indicator (SRI) schemes. Central to our methodology is the adoption of whole life cycle costing to translate the multifaceted aspects of buildings' energy performance and smartness into universally comprehensible monetary values. These indicators not only demystify the financial viability of energy upgrade measures but also highlight the potential Rate of Return from investments in smart readiness improvements. Ultimately, this research provides a valuable tool for stakeholders involved in building design, construction, and management, promoting the implementation of smart technologies through a clear, financially grounded framework. The outcome not only encourages the adoption of energy-efficient and smart solutions but also supports the broader goal of achieving sustainable and intelligent urban environments. This dual-purpose approach significantly advances the field by offering practical solutions for enhancing building smartness, aligning technical innovation with financial insight to foster more sustainable and economically viable building practices.