Better insulated buildings and more efficient heating systems are key prerequisites for achieving the climate targets in the building sector. This analysis by the EWI examines the profitability of energy refurbishment measures and a heating system replacement on the basis of two single-family houses under the current framework conditions. In addition, a sensitivity calculation is used to investigate the effects of measures with a lower renovation depth on the final energy demand, the profitability and the CO2 avoidance costs.