Performance testing of components and subsystems of buildings is a promising practice for increasing energy efficiency and closing gaps between intended and actual performance of buildings. A typical shortcoming of performance testing is the difficulty of linking a failing test to a faulty or underperforming component. Furthermore, a failing test can also be linked to a wrongly configured performance test. In this paper, we present Building Metadata Performance Testing (BuMPeT), a method that addresses this shortcoming by using building metadata models to extend performance testing with fault detection and diagnostics (FDD) capabilities. We present four different procedures that apply BuMPeT to different data sources and components. We have applied the proposed method to a case study building, located in Denmark, to test its capacity and benefits. Additionally, we use two real case scenarios to showcase examples of failing performance tests in the building, as well as discovery of causes of underperformance. Finally, to examine the limits to the benefits of the applied procedure, a detailed elaboration of a hypothetical scenario is presented. Our findings demonstrate that the method has potential and it can serve to increase the energy efficiency of a wide range of buildings.