Building owners usually select energy efficiency measures (EEMs) by referring to return on investment (ROI). Current studies tend to apply static energy price to estimate ROI. However, more and more buildings are adopting dynamic electricity pricing programs. To understand how electricity pricing programs impact the selection of EEMs, this paper presents an analysis of the ROIs of EEMs under different pricing programs using U.S. medium office buildings as an example. Eight EEMs in four typical cities are selected as case studies. Considering five electricity pricing programs scenarios (one static program and four dynamic programs), EEMs are selected based on their ROIs. The main findings are: (1) The ROIs of EEMs change under different pricing programs. (2) In Honolulu, Buffalo, and Denver, replacing interior fixtures with higher-efficiency fixtures has a significantly higher ROI than the rest EEMs under all five pricing programs. However, the ROI of this EEM in Honolulu ranges from 28% to 47% for different pricing programs. (3) Similarly, in Fairbanks, replace heating coil with higher-efficiency coil produce higher ROI than the rest under all five pricing programs. (4) For other EEMs, their ROI rankings vary according to electricity pricing programs.

建筑物所有者通常通过参考投资回报率（ROI）选择能效措施（EEM）。当前的研究倾向于采用静态能源价格来估计投资回报率。但是，越来越多的建筑物正在采用动态电价计划。为了了解电价计划如何影响EEM的选择，本文以美国中型办公楼为例，对不同价格计划下EEM的ROI进行了分析。选择了四个典型城市中的八个EEM作为案例研究。考虑五个电价计划方案（一个静态程序和四个动态程序），根据其ROI选择EEM。主要发现有：（1）不同定价方案下新兴市场企业的投资回报率发生变化。（2）在檀香山，布法罗和丹佛，在所有五个定价计划下，用效率更高的灯具代替内部灯具的ROI均显着高于其余EEM。但是，针对不同的定价程序，该EEM在檀香山的投资回报率范围为28％至47％。（3）同样，在费尔班克斯，在所有五个定价计划下，用效率更高的线圈代替加热线圈可产生比其余线圈更高的投资回报率。（4）对于其他EEM，其ROI排名根据电价计划而有所不同。