ABSTRACT

Building industry is very influential in sustainable development and the transposition in Spain of recent European directives, regarding to energy policies, makes compulsory energy performance certification in new residential buildings. This aspect will be considered in buildings valuation. 
This Doctoral Thesis analyses regulations and the official software to reach the required energy performance, in new built dwellings and in every climatic zone in Spain.
From the information of a real terraced houses property development some aspects are analyzed. First of all, the required constructive solutions and facilities to fulfil the regulations are selected. Some costs are calculated taking into account the energy performance and the climatic zone: the cost of the construction process, and the facility management and energy consumption cost during the building lifespan. Also the quantity of carbon emissions is determined.
More sustainable dwellings require higher investment cost which should be compensated for lower private costs due to the use of the building. However it does not happen. Therefore it is necessary to define an environmental price or tax for CO2, in order to value social cost which makes profitable the selection of more energetically efficient houses. The implemented methodologies are analysis cost and investment cost, which integrate private or economic cost and social or public cost.

Finally, a multi criteria analysis is applied in order to get a combination of dwellings with different energy performance in a property development, considering private and public cost.
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