The U.S. Department of Energy (DOE) Federal Energy Management Program (FEMP) presents Fundamentals of Life Cycle Costing for Energy Conservation, a new training course that provides knowledge and skills to improve federal economic-based decision making, determine the total cost of ownership of project alternatives, and inform decisions for energy and water efficiency investments. In addition, learners will apply key requirements and supplemental economic measures to Federal investment decisions, such as those for individual and interdependent building system acquisitions for new construction and major renovations. Course participants will learn to:
Discount cash flow to present value and choose correct methods to handle inflation
Calculate supplementary economic measures including net savings, savings-to-investment-ratio, adjusted internal rate of return, and payback period
Calculate LCC and decide whether to accept or reject alternatives for independent and/or interdependent projects
Allocate a budget among competing projects,
Run the Building Life Cycle Cost software to make calculations, screen project alternatives, and generate standard reports.
The course instructor is Dr. Joshua Kneifel, an economist at the National Institutes of Technology (NIST), Engineering Laboratory, Applied Economics Office. At NIST, Kneifel develops metrics and tools for energy-efficient and sustainable buildings and implementing life cycle costing methods and procedures. He is also responsible for the software tool Building for Environmental and Economic Sustainability, which measures the environmental and economic sustainability of building products, as well as a companion tool for whole buildings known as Building Industry Reporting and Design for Sustainability.
After completing a course evaluation and multiple-choice assessment, participants will receive a certificate of completion and be eligible for .60 continuing education units.
FEMP training courses are designed for federal energy and facility managers, but are open to all individuals on the FEMP Training. Courses are hosted in partnership with the National Institute of Building Sciences Whole Building Design Guide.
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