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This article presents an analysis of rotary heat exchangers (RHE) used as heat recovery units in building ventilation systems in cold climates. Usually, heat exchangers with the highest heat transfer efficiency are the preferable option for this purpose. However, such exchangers usually have the highest media pressure drop, thus requiring the highest amount of energy for media transportation. In this study, the problem is solved by analysing the lifecycle cost (LCC) of the RHE including both the recovered heat and the electricity consumed in the fans of the air handling unit (AHU). The purpose of the investigation was to determine the optimal set of geometrical characteristics such as the exchanger’s length, foil thickness, the height and width of the air channel. Two hundred and seventy different combinations were examined using analytical dependencies and ANSYS simulations. The results are compared with experimental data obtained earlier at the KOMFOVENT laboratory. The results show that the best overall energy efficiency is obtained in heat exchangers that do not offer the best heat recovery efficiency, and LCC differences in the same climatic and economic conditions can go as high as 31 %, mainly due to the geometrical parameters of the heat exchanger.