The International Energy Agency established an Implementing Agreement within the Energy in Buildings and Communities Program to undertake research and provide an international focus on “Cost Effective Energy and Carbon Emissions Optimization in Building Renovation” (EBC Annex 56). The project aims at developing a new methodology to enable cost effective renovation of existing buildings while optimizing energy consumption and carbon emissions reduction. Several case studies were gathered to develop and validate the methodology, and a selection of “Shining Examples” was made to encourage decision makers to promote efficient and cost effective renovations. This paper presents the results of the analyses made on these Shining Examples.