Energy Efficiency Homeowners Care About

Going green has become increasingly popular. Tax credits have encouraged individuals and companies to use more energy efficient products and this has created a giant industry. Add new product innovations that are both energy efficient and cost effective and it is easy to understand the appeal.

Yet consumers are often still confused by industry terms and product effectiveness. What is certain is that, according to the AARP public policy institute, energy costs have increased by over 42% since 2002. As a result consumers are very concerned about their energy costs. Utility bills include electric, gas and water. These costs are often the highest expense for homeowners, after the mortgage payment.

Cost savings are a bigger concern to consumers than saving the planet. If they can make informed decisions that provide a benefit to both, then you have the homeowner’s attention. Consumer promotions like Energy Star ratings are in place to help buyers make financial decisions and home improvements that will lessen environmental impact and save consumers money. Utility companies have even joined the throngs and often offer services that assist customers in recognizing ways to reduce utility bills.

When it comes to home purchases and home sales, energy efficient homes are thought to bring higher prices than homes without energy efficient measures. Items that include energy efficient windows and doors, upgraded insulation and energy efficient appliances top the list of upgrades homeowners find value in.

Other energy efficient measures like solar panels and solar water heaters are associated with higher costs and slower return on investments.  As a result they are less popular upgrades for homeowners. Since they are less available to the average owner, consumers do not have a good understanding about how they operate and how they will save the homeowner money. This impacts buyer interest and willingness to pay for these products.

When marketing a home, it’s important to recognize that consumers are very interested in saving money. While they like the feel good marketing that comes from going green, they are not willing to spend significantly more money in order to reduce the environmental impact. In the end green projects appear to be more about saving greenbacks than saving the environment.

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How the Green Movement is Impacting Home Ownership

Sustainable living is a popular buzzword today in many circles. Saving money has also become a popular concept that has reached the ranks of all income levels. Combining environmental concerns with saving money makes sense for homeowners. Fortunately prices for energy efficient designs are at a price point where it is available to homeowners in all price points.

Green Remodeling Options

Green remodeling can come in many shapes or forms. It can be as simple as sealing doors and windows to converting all the lighting to energy efficient options. Most energy companies offer free energy audits. This is a great place for homeowners to start. The biggest bang for your buck starts with sealing the air loss in the home. This can happen with increased insulation, insulating attics and places that have minimal or no current insulation, new windows, and cleaned duct work. These procedures will not only improve the air quality, but will reduce utility bills.

The next step consumers generally turn to are energy efficient appliances. With the Energy Star Rating system it is easy to compare appliances with regard to energy efficiency. The ratings include all appliances from televisions, to washers and refrigerators. Most appliances have the Energy Star Ratings allowing consumers to select the most efficient models.

The last step, and perhaps the most talked about, is converting to solar panels for electrical use and solar water heating. These are more expensive conversions that have much longer return on investments. They are however, more noticeable when looking at reselling the home.

Implications for Resale

Keeping track of energy efficient upgrades is the best way to get the value from a resale point of view. Keep receipts for the projects you have completed. This might include simple things like installing low flush or dual flush toilets and low flow showerheads. They make a big impact on water bills and are not expensive conversions. Documenting the upgrades along with the reduction in utility bills will help potential buyers see the value.

With larger projects look for rebates and government incentives before starting the upgrade. This applies to HVAC systems, windows, doors and often appliances. Solar panels and solar water heaters might also have incentives depending on where you live. These incentives can reduce the return on investment by over 50%, making them more financially feasible.

Quality of Life

Green remodeling not only impacts the environment and your wallet, it can also improve indoor air quality. Green initiatives will reduce the cost of operating the home, and conserve natural resources. Will millions of Americans suffering from allergies and sensitivities to the chemicals used in our homes, energy efficient and environmentally friendly options are more important to home buyers. Marketing your home as energy efficient and documenting improvements will enable sellers to get the maximum value for their homes with a faster sales cycle. Green living is becoming more than a buzzword, it is becoming an expectation.