This study compared the feasibility of utilizing a wood bioenergy system over a conventional central heating and cooling system and a cogeneration system in an apartment complex. The performance of the three systems were compared in the following areas: energy consumption, environmental impact(output of CO2, CH4, and N2O), and life cycle cost. The results showed that energy performance of the wood bioenergy system was similar to the conventional central system (just a 1% improvement) but the cogeneration system showed a 12% reduction in energy consumption compared to the conventional system. In terms of environmental impact, the bioenergy system reduced pollutants by 50% while the cogeneration system reduced pollutants by 30% compared to the conventional system. Life cycle cost analysis indicated bioenergy and cogeneration to have an 8% and 19% improvement over the conventional system. The findings of the study suggest that it is both economically and environmentally beneficial to use a wood bioenergy system in place of a conventional central heating and cooling system in apartment complexes.