Economic analysis of upgrading aging residential buildings in China based on dynamic energy consumption and energy price in a market economy

► The paper uses LCC to conduct economic analysis on building energy retrofit of China. ► LCC considers dynamic energy use, energy price and economic development of China. ► Only relying on increasing electricity price and governments' subsidies is not enough. ► Actually only 1/3 of original cost is spent only for energy saving, can be drawn back. ► Investors, governments and occupants should respectively pay 1/3 of investment cost.