. 2020 Aug 24;135:110199. doi: 10.1016/j.rser.2020.110199

Table 7.

Effectiveness evaluation models for financial incentives.

Effectiveness type	Model	Ref.
Environmental	Specific environmental target in comparison with that achieved by an alternative FI	[147,[179], [180], [181]]
Emission reduction	Reduction in CO₂ emission (tCO₂)	[8,147,168,178,182]
Energy	$E_{E f f} = 100 X \frac{(P E_{e x - a n t e} - P E_{e x - p o s t})}{P E_{e x - a n t e}} = \frac{Δ P E}{P E_{e x - a n t e}} (%)$ where: E_Eff = Energy effectiveness PE= Primary Energy Demand	[183]
Eco-logical cost	$E C E = \frac{C_{f}}{V_{E}}$ where: ECE = Eco-logical cost effectiveness C_f = financial costs of energy upgrade (Cost/m²) VE = reduction in environmental impact due to energy upgrade (Pt/m²) Pt = LCA eco-indicator point	[184]
Cost	$C_{E f f} = \frac{p r o g r a m e f f e c t s i n p h y s i c a l t e r m s}{c o s t s (e . g . C A D $)}$ where: C_Eff = Cost-Effectiveness	[185]
	%-age reduction in PBP where: PBP= Payback Period	[[186], [187], [188], [189]]
	Benefit-to-cost Ratio (B/C)	[23,170,172]