At times, the language used in reports can be complicated and confusing. Below is a list of terms used throughout the report and their meanings.
kWh – Kilowatt hours. This is the equivalent of one kilowatt being used continually for one hour. You will recognise kilowatt hours (kWh) as the unit of energy detailed on a home electricity bill, where you are charged for each kilowatt hour (kWh) used.
CAPEX – Capital Expenditure is money spent by an individual or organization in acquiring or maintaining fixed assets, such as land, buildings, and equipment.
Energy Efficiency – Simply put, this means doing more with less. Energy efficiency is achieved when a change in technology or behaviour leads to a reduction in energy consumption. For example, insulating a home allows that building to use less energy to maintain a comfortable temperature.
Energy Savings – Energy costs money, therefore when energy efficiency is increased, energy savings are made in the form of Euros. It is for this reason that when discussing energy savings in this report it is done in Euros.
Register of Opportunities (ROO) – The Register of Opportunities is the record of all opportunities (measures) for energy savings in the building.
Renewable Technologies – These are system that use natural resources such as sunlight, wind, or geothermal heat, which are naturally replenished, to generate electricity or useful heat.
Simple Payback Period – This is the number of years it will take for the total initial investment in a project to be paid by the savings made.
Example: Initial Investment = €1,000
Annual savings as a direct result of investment = €100
Simple Payback Period = Initial Investment/Annual Savings = €1000/€100 = 10 yrs.
Thermal Energy – defined as energy used to generate heat. Examples include oil or natural gas being used in a boiler, or wood in an open fire.