NAHB Reports ENERGY STAR Rating Tops the List of Green Energy Features Desired by Homeowners
By Jesse Rivera, CEO at New Vista Solutions
The National Association of Home Builders recently completed a study called What Home Buyers Really Want. The targeted participants had either purchased a home in the past three years, or they were planning to purchase in the next three years.
One part of the study focused on green energy features that homeowners considered 1) essential, 2) desirable, 3) unimportant or 4) unwanted. The top three essential features were ENERGY STAR1 rated.
In first place were ENERGY STAR rated windows, with 38% saying they were essential and 51% saying they were desirable. ENERGY STAR rated appliances came in second, and having an ENERGY STAR rating for the whole home came in third.
Energy-efficient lighting, triple-pane windows, high-efficiency insulation, water-conserving toilets, low-e glass windows, tankless water heaters and solar power rounded out the top ten.
The study found homeowners were willing to pay an average of $8,728 upfront on energy-saving features to cut $1,000 a year off their utility bills.
Carmel Ford, a research associate at NAHB, stated in a blog post, “It is important to note that while the average amount a homebuyer is willing to pay is $8,728, the median is $5,000. The difference can be explained by the presence of some very green-motivated home buyers who are willing to pay more than $50,000 upfront to save $1,000.”
Homeowners considering an energy-efficient upgrade as part of a home improvement project will be glad to know there are government-backed financial incentives available to help bear some of the costs.
The incentives vary by state. Many states are expanding their green energy incentives as state lawmakers prioritize energy efficiency and environmental policy.
Here are some examples:
- Florida offers a $0.50 per square foot rebate with the installation of qualifying energy-efficient windows — maximum rebate is $300.
- California offers rebates up to $5,500 to homeowners willing to upgrade the overall energy efficiency of their home.
- Texas waives the sales tax on certain Energy Star rated products during Memorial Day weekend each year. So if you live in Texas and you’re thinking about purchasing a new appliance, mark your calendar for May 25 – 27.
Where can homeowners find information about green incentives? New Vista Solutions has partnered with IncentiFind to create The Green Report. IncentiFind maintains the nation’s only accurate database of over 12,000 green incentives.
The Green Report provides homeowners with a list of government-backed and utility-funded incentives available when they renovate or upgrade their homes using energy-efficient, water-conserving and/or renewable products, materials or measures.
For a free search of incentives in a specific geographic area, visit The Green Report page on the New Vista Solutions website at https://newvistasolutions.com/green-report.
1 ENERGY STAR is the trusted, government-backed symbol for energy efficiency helping us all save money and protect the environment through energy-efficient products and practices. The ENERGY STAR label was created by the Environmental Protection Agency (EPA) to make it easy for consumers to identify and purchase energy-efficient products that offer savings on energy bills without sacrificing performance, features, and comfort.