This guide provides a methodology for adapting a life cycle cost (LCC) calculator to your institution. An LCC calculator can be used to examine the present and future costs of any expenditure and can include a proxy carbon price in its analysis. Adapting an existing tool saves time and resources when compared to building from scratch. It also provides the most accurate information by accounting for specifics of context, such as energy costs and the greenhouse gas emission rates of energy sources, which vary by region.
This guide outlines a five-step process for adapting an LCC calculator to match your institutional context. Step one is identifying all assumptions and utilities that may be needed to complete a life cycle cost estimate (e.g. electricity, central plant steam). Step two is collecting the data for all identified utility rates and assumptions. Step three is preparing the tool for the data update. Step four is entering institutionally specific variables into the calculator. Step five is updating the tool with the best available data to maintain accuracy
Parker, Breanna J. and Barron, Alexander R., "Methodology to Adapt and Update a Life Cycle Cost Calculator for Your Institution: A Step-by-Step Guide" (2018). Technical Report, Smith College, Northampton, MA.