Green Building is Red Hot
Right now the general building industry is seeing a lot of red, not green. With the housing markets in free fall, homeowners finding out that their mortgage debt exceeds the value of their house and with the foreclosure crisis continuing to grow it doesn’t look good. But even with all this bad news there is one bright spot in the building world, green homes. A recent survey by the National Association of Home Builders (NAHB), new home buyers would spend almost an additional $9,000 on a home with effective energy efficient features. Another consumer study that indicated that 85% of recent home buyers would choose one home over another because of energy efficiency features. The study also reported that buyers are willing to pay an average of $19,000 more for a green home.
Recently the NAHB marked the 10th anniversary of its National Green Building Conference before a record crowd of more than 1,200 attendees. At the meeting some of the pioneering green builders reflected on how they have gone from being “the people no one wanted to sit next to” to being “the most popular guys in the room.”
Given these signs it looks like more builders will be focusing on building “greener” new homes which should help everyone.
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The Energy Independence and Security Act was signed into law on 12/19/07. There are a couple of key items in that bill that should benefit all of us. Probably the biggest news item was the Corporate Average Fuel Economy (CAFE) Standard being raised. The law sets the new target at 35 miles per gallon for the combined fleet of cars and light trucks by model and it has to be reached by the year 2020. Also included in the bill were provisions to raise the energy efficiency standards for a broad range of lights and appliances. This includes regular light bulbs and fluorescent lamps additionally efficiency standards were set for external power supplies, and the majority of major home appliances.