Externalities are the activities of one group of actors that affect the possibilities of production or consumption of goods of other actors without any influence on market prices. The external cost or benefit is not reflected in the final cost or benefit of the goods and services. Therefore, economists generally view externalities as a serious problem that creates market inefficiencies, leading to market failures. A negative externality is a negative consequence of an economic activity experienced by an unrelated third party. The focus of most economic research on externalities is the negative effects of a company's operations or the implementation of a project that results in negative consequences for third parties unrelated to the project. Some negative externalities, such as various types of environmental pollution, are particularly harmful due to significant impacts on population health and climate change. However, external effects can also appear as market and social benefits and are then called positive externalities. Positive externalities most often arise as a result of investments in production process improvement, introduction of new technology or energy renovation of buildings. It is often difficult to quantify and relate positive effects to the actual implementation of this type of activity. In recent years, a large number of studies have been conducted on the topic of positive externalities and their impact on society. However, these effects have not been sufficiently investigated. This paper highlights examples of positive socioeconomic impacts of certain projects and business activities. For the purpose of research and proving already existing claims related to positive externalities, this paper provides analysis of project Energy renovation of kindergarten "Ivančice" Ivanec and its external effects.