The costs of a more efficient home
The House climate bill passed in June would require all new homes to be 30 percent more efficient by 2010. Will that hurt any housing rebound? Sam Eaton reports.
A green house amid gray houses (iStockPhoto)
More on Housing - Real Estate, Sustainability, Copenhagen
TEXT OF STORY
Steve Chiotakis: So, the Senate's on summer recess, right? And lawmakers may have postponed any action on climate legislation 'til they return, but that doesn't mean the lobbyists are taking a break. From the Marketplace Sustainability Desk, Sam Eaton reports.
Sam Eaton: The House climate bill passed in June would require all new homes be 30 percent more efficient by 2010. But the National Association of Homebuilders' Bill Killmer says that's too far, too fast. He says the bill's tougher efficiency standards would stall any housing rebound.
Bill KILLMER: If you take this action it really will be a shock to the system and the concern is that you could stall that rebound if you're adding cost.
Killmer says those measures would costs about $4,000 extra. But efficiency advocates point out that once those costs are rolled into a 30-year mortgage, the energy savings far outweigh the higher payments. William Fay directs the Building Energy Efficient Codes Network.
WILLIAM FAY: And so this is money in the wallet of the homeowner.
According to the U.S. Department of Energy homeowners would net more than $500 a year in energy savings, despite the home's higher sticker price.
I'm Sam Eaton for Marketplace.
Comments
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From London, 08/20/2009
It's incredible that the reason given for opposing this is that it could stall the house-building rebound. House-building rebound? The US has enough housing inventory to last it decades! The last thing we need now is another gross misallocation of resources like the housing boom we've just been through.
From Philadelphia, PA, 08/11/2009
Builders get on board! Environmentally-friendly is not just a popular trend,
it is the responsible way to do business in 2009 and absolutely the way to
go in 2010. The technology is here today, so why not use it? Home buyers are
demanding these efficiencies not only for the good of the planet, but also
for the good of their wallet. In building Sheldon Crossing, our carriage
home development in Philadelphia, we are utilizing the best of the best
sustainable products and materials. We wouldn't consider doing it any other
way. It's not because the House climate bill will mandate it, it's because
our buyers demand it.
From St. Louis, MO, 08/10/2009
I work for a homebuilding company in St. louis, MO. As the first certified green production homebuilder in our metro area, we see building to a green standard not as a drawback, but as an asset to our homeowners as well as a way to gain valuable expertise in energy efficient buiding before it is mandated to our industry. The energy advocates are correct, if you do the math, energy efficient homes will pay for themselves!
From Whittier, CA, 08/10/2009
My gosh!
I can't believe that home builders are complaining about an increase of only $11.11 a month in a house payment over a 30 year time frame. Think about it guys........we, the home owners, will be spending an estimated $500.00 a year less for utilities! Come on now, do the math. $500.00 - $133.32 = a savings of $366.68.
You think this is a bad thing?
SHEESH!
From a home owner who can do the math.
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