Abstract: To reduce the energy consumption in buildings, there is a demand for tools that identify significant parameters of energy performance. The work presents the development and validation of a simulation model, called MEEDI, and graphical figures for the parametric sensitivity investigation of energy performance in different climates in Chile. The MEEDI is based on the ISO 13790 monthly calculation method of building energy use with two improved procedures for the calculation of the heat transfer through the floor and the solar heat gains. The graphical figures illustrate the effects of climate conditions, envelope components and window size and orientation on the energy consumption. The MEEDI program can contribute to find the best solution to increase energy efficiency in residential buildings. It can be adapted for various parameters, making it useful for future projects. The economic viability of specific measures for building envelope materials was analysed. Payback periods range from 5 to 27 years depending on the location and energy scenario. The study illustrates how building design decisions can have a significant impact on final energy performance. With simple envelope components modification, valuable energy gains and carbon emission reductions can be achieved in a cost-effective manner in Chile.