Life cycle cost and CO 2 emission simulation models of apartment building projects using system dynamics

Abstract

In recent years, interest in green industries, energy and resource conservation, and reduction of CO₂ emissions has grown worldwide. There have been many attempts to reduce CO₂ emissions in the construction field. However, adopting eco-friendly technologies in buildings may result in high investment costs at the initial stage of building projects, and budget limitations can consequently impact decision-making regarding green technology application. To overcome these problems, there have been studies to develop life cycle cost (LCC) and life cycle CO₂ emissions (LCCO₂) analysis models. However, these models reported so far lack verification of effectiveness of simulation results and are not well suited for practical application. Thus, a simulation model that is capable of selecting optimal alternatives for systematic analyses of cost-effective carbon reduction measures is desired and necessary. Accordingly, the purpose of this study is to use system dynamics to develop an LCC-based LCCO₂ simulation model for whole life assessment of apartment building projects. The proposed model will be further developed into programmes that are able to select optimal alternatives for apartment building projects that could reduce LCCO₂ while ensuring reasonable LCC.