DIN EN 17463 (VALERI) explains: methodology, calculation example, and free Excel template
Laws & Regulations
The DIN EN 17463, also known as VALERI (Valuation of Energy Related Investments), is the European standard for the economic evaluation of energy efficiency measures. It defines a standardized procedure that allows companies to calculate the capital value (Net Present Value) of energy investments. This article explains the methodology, the legal framework, and provides a free Excel template for the VALERI calculation.
What is the DIN EN 17463 and what does the VALERI standard regulate?
The DIN EN 17463 is a European standard that was published in December 2021. VALERI stands for "Valuation of Energy Related Investments" and refers to the evaluation procedure for energy-related investments described in the standard. The standard defines how companies collect, calculate, evaluate, and document information to determine the cost-effectiveness of energy efficiency measures.
The central tool of the VALERI method is the capital value calculation (Net Present Value, NPV). Unlike static payback calculations, the capital value method takes into account the time value of money, price increases, and the entire useful life of a measure. Thus, the DIN EN 17463 replaces older, less meaningful evaluation procedures with a uniform and verifiable approach.
The standard addresses both monetary and non-monetary effects of investments. This includes, for example, environmental impacts from reduced CO₂ emissions or improvements in working conditions. This creates a comprehensive decision-making basis that goes beyond mere cost considerations.
How does the VALERI method work for the evaluation of energy investments?
The capital value method is the core of the DIN EN 17463. The Net Present Value (NPV) calculates whether an investment yields a positive economic return over its entire evaluation period. All future cash inflows and outflows (cash flows) are discounted to their present value. Benefits and burdens must be financially quantifiable, for example, through expected energy cost savings or maintenance costs.
The VALERI calculation follows a structured process: First, the benefits and burdens of the measure are identified and monetized. The user then determines the evaluation period, the discount rate, and the expected price increase rates. The NPV results from these parameters. If the calculation yields a positive capital value, the measure is considered economically viable. In addition, the standard requires a sensitivity analysis, where the most important parameters are varied to test the robustness of the result.
Calculation example: NPV of an LED lighting conversion
A production company plans to convert its hall lighting to LED. The investment costs amount to €50,000. Due to the lower electricity consumption, the company saves €8,000 annually in energy costs. The useful life of the LED lighting is 15 years, the discount rate is 5%, and the annual energy price increase is 3%. The capital value (NPV) results from the sum of all discounted cash flows minus the initial investment. In this example, a positive NPV of around €48,000 is generated. The measure is considered economically viable according to DIN EN 17463, as the NPV becomes positive well before 20% of the useful life has elapsed.
Important note: The specific calculation depends on company-specific factors such as the individual discount rate and the actual energy prices. For complex investment decisions, it is advisable to consult an energy advisor or auditor.
Which companies are obligated to perform the VALERI evaluation?
Several German laws and regulations refer to the DIN EN 17463 as a standard for evaluation. The most important currently valid legal basis is the Energy Efficiency Act (EnEfG), which has been in effect since November 18, 2023. According to § 8 EnEfG, companies with an annual total final energy consumption of more than 2.5 GWh must publish implementation plans for energy efficiency measures. Companies with a consumption exceeding 7.5 GWh are additionally required to introduce an energy or environmental management system. The cost-effectiveness of the identified measures must be evaluated according to DIN EN 17463.
Additionally, further regulations refer to the VALERI standard, including the Carbon Leakage Regulation (BECV) and the Energy Financing Act (EnFG). Companies applying for state aid or relief must demonstrate the cost-effectiveness of their measures according to VALERI. The results of the evaluation must be verified by accredited entities within the framework of confirmation procedures.
The former Medium-Term Energy Supply Security Measures Regulation (EnSimiMaV) obligated companies with a total energy consumption exceeding 10 GWh to apply DIN EN 17463 starting in October 2022. This regulation will be repealed on September 30, 2024. However, the requirements for cost-effectiveness evaluation contained therein continue to apply under the EnEfG.
How does VALERI differ from classical payback calculations?
The VALERI method fundamentally differs from static payback calculations. While simple payback calculations only determine after how many years an investment "pays off", the capital value method according to DIN EN 17463 considers the entire evaluation period, including the time value of money. Price increases for energy and non-energy costs, degradation effects, and residual values are included in the calculation.
Compared to dynamic investment calculations such as the internal rate of return method, the VALERI standard offers the advantage of a standardized and thus comparable procedure. Companies, auditors, and authorities work with the same calculation bases. This uniformity is particularly important in the context of legal proof obligations, for example, when applying for subsidies under the EnFG or the BECV.
What advantages does an Excel template offer for the VALERI calculation?
A structured Excel template significantly facilitates the execution of the cost-effectiveness evaluation according to DIN EN 17463. The main advantages are summarized as follows:
Standardized calculation method: The template reflects the requirements of DIN EN 17463 and ensures that all relevant parameters – investment costs, useful life, discount rates, price increase rates – are correctly considered.
Automated capital value calculation: After entering the basic data, the VALERI calculation spreadsheet automatically calculates the Net Present Value. Manual calculation errors are minimized as a result.
Efficient data collection: Relevant information on benefits and burdens can be systematically collected and evaluated. The structure of the template is oriented toward the standard requirements.
CO₂ savings potential: In addition to the financial key figures, the VALERI calculation Excel template also indicates the achievable CO₂ reduction of the respective measure.
Verification of legal implementation obligations: The template checks whether a measure meets the cost-effectiveness criteria according to EnEfG and is thus subject to implementation obligations.
Such a template does not replace professional advice but provides a structured entry into the evaluation of energy efficiency measures according to DIN EN 17463.
Free VALERI Excel template from Global Changer
Global Changer offers a free Excel template for cost-effectiveness evaluation according to DIN EN 17463 (VALERI). The VALERI calculation Excel template automatically calculates the capital value (NPV), shows CO₂ and cost-saving potentials, and checks the implementation obligation under the Energy Efficiency Act.
Frequently Asked Questions about DIN EN 17463 (VALERI)
What does the abbreviation VALERI stand for?
VALERI stands for "Valuation of Energy Related Investments". The term refers to the standardized evaluation procedure of the European standard DIN EN 17463, based on the capital value method and available as a German-language version since December 2021.
Which companies must apply DIN EN 17463?
According to the Energy Efficiency Act (EnEfG), companies with an annual total final energy consumption exceeding 2.5 GWh are required to create implementation plans. From 7.5 GWh onwards, there is an additional obligation to introduce an energy or environmental management system. In both cases, cost-effectiveness must be evaluated according to DIN EN 17463.
What is the difference between VALERI and payback calculations?
Payback calculations only determine the point at which an investment covers its initial costs. In contrast, the VALERI method calculates the capital value over the entire evaluation period, taking into account the time value of money, price increases, and degradation effects.
Is the EnSimiMaV still valid?
The Medium-Term Energy Supply Security Measures Regulation (EnSimiMaV) will be repealed on September 30, 2024. However, the requirement for cost-effectiveness evaluation according to DIN EN 17463 remains in effect under the Energy Efficiency Act (EnEfG) and other regulations such as the BECV.
Is there a free Excel template for the VALERI calculation?
Yes. Global Changer provides a free VALERI calculation spreadsheet as an Excel download that automates the calculation process according to DIN EN 17463. The template is available at globalchanger.com/excel-templates/valeri.
Note: We use the term CO₂ in the article. This refers to CO₂ equivalents (CO₂e), a metric that captures the climate impact of all greenhouse gases by converting their emissions into an equivalent amount of carbon dioxide.
Sources:
DIN Media: DIN EN 17463 – Evaluating Energy-Related Investments (VALERI)
DIN Media: DIN EN 17463:2021-12 – Standard Text
IHK Rheinhessen: Evaluating Energy-Related Investments according to DIN EN 17463 (VALERI)
DEKRA: Examination of Energy Efficiency Measures according to DIN EN 17463
Gebaeudeforum.de: Regulations for Energy Saving – EnSimiMaV
Bundesanzeiger: Text of Law EnSimiMaV
UIO Environmental Institute: Evaluation according to DIN EN 17463
