As part of this work, potential renovation measures for reducing energy consumption and CO2 emissions of a real building were examined and evaluated. To achieve this goal, all building data (geometry, U-values, g-values of the windows, internal loads, etc.) were collected and analyzed using building physics calculation programs. Based on the resulting calculation model, several renovation variants were investigated regarding their building physics and economic impacts in comparison to the current state, using a variety of different building materials (ecological, renewable, or commonly used) and insulation thicknesses. The impact of photovoltaic systems and green roofs on energy consumption and CO2 emissions was also studied. The installation of photovoltaic systems led to a significant reduction in energy consumption for all examined renovation variants. Based on these results, the installation of photovoltaic systems on the studied building is highly recommended.