EU regulations are gradually moving towards policies that reduce energy consumption and its environmental impact. To reach this goal, improving energy efficiency in residential buildings is a key action line. The European Parliament adopted the Near Zero-Energy Building (nZEB) as the energy efficiency paradigm through Directive 2010/31/EU, but a common technical and legislative framework for energy renovations is yet to be established. In this paper, the nZEB definition by COHERENO was adopted to evaluate several energy renovation packages in a given building, which is also representative of the Spanish building stock. Global costs are calculated for all of them following EPBD prescriptions. Two economic scenarios are analysed: with entirely private funding and with the current public financial incentives, respectively. The results show the divergence between optimum solutions in terms of costs and of minimum CO₂ footprint and maximum energy saving. Moreover, in the absence of enough incentives, some inefficient renovations could achieve a global cost close to the optimal cost. The optimum solution both in terms of energy performance and global costs was carried out and described.