Energy and economic assessments are of great relevance in the context of decision processes for the most optimal solutions for building renovations. Following the method recommended by UNIDO, economic analyses of thermal modernization options are carried out based on the Simple Payback Time (SPBT), Net Present Value Ratio (NPVR) and Internal Rate of Return (IRR) indices. Incorporating these indicators and a new approach that involves aggregating thermomodernization activities not only in the cold and warm seasons separately, but throughout the whole year, an economic evaluation of the thermomodernization of a production space was carried out. In this case study, the renovation options included wall insulation, window replacement, the installation of infrared heater, a two-flow air diffuser (TFAD) and variable air volume. The economic effect indicated by the highest NPVR over a normative period of 15 years was obtained for the installation of an infrared heater and a TFAD with a variable mode ventilation system. The SPBT for this case was also the lowest.