In a study performed on new and existing homes sold from May 2010 through April 2011, the Earth Advantage Institute found that the newly constructed homes with certifications for sustainability and energy efficiency sold for 8% more than the average noncertified homes while existing homes with certifications sold for 30% more. This data was provided by the Portland regional Multiple Listing Service. Certified homes were defined as those carrying Energy Star. LEED (Leadership in Energy and Environmental Design) for Homes, or Earth Advantage home certifications.

Officials note that using average sale prices for homes without comparing the homes directly with one another may not be conclusive. For example, some of the newly constructed certified homes may be more expensive to begin, and existing certified homes may be larger and more likely to be in higher-cost neighborhoods where energy-efficiency adoption rates are also higher. A study conducted by the institute of Seattle and Portland shows that the Homes marketed with energy-efficiency certifications sell faster than those without. The study found that in Portland, certified homes spent 18 less days on the market than noncertified homes.

The National Bureau of Economic Research took a different approach in a recent study on homes in San Diego and Sacramento: After solar panel installation Los Angeles, how much do you get back in market resale terms, in addition to the monthly savings? Researchers examined home sales in both metropolitan areas between 2003 and 2010 and found that solar panel installations for homes in the $500,000 range cost homeowners about $35,967. With federal and state credits this net average cost lowered to about $20,892. This investment yielded an increase in the appraised value by $20,194-a 97% recovery. Although the rate is under 100%, it is still higher than most home improvements such as kitchen and bathroom remodeling.

Although newly constructed homes come with energy and sustainability certifications, banks don't always recognize their value when providing mortgage money. Bank underwrites don't always include the reduced monthly utility costs in the household income/ household expense ratios that affect the maximum mortgage amounts available to potential home buyers. Appraisers often don't have the training to recognize and give credit to houses that have money-saving solar installations, geothermal heating and cooling, water conservation features and other green improvements. The appraisal institute says that it was done its part to sponsor "green" appraisal courses for 2,300 appraisers during the last two years. It says it strongly supports efforts to better incorporate energy efficiency and environmental factors into home evaluations and mortgage underwriting.

For references please visit: http://articles.latimes.com/2011/aug/28/business/la-fi-harney-20110828

 







In the last five years, electric bills have skyrocketed, a reversal from a quarter century when homeowners enjoyed stable power bills as they consumed more electricity. An analysis of government data done by USA Today found that, on average, homeowners paid a record of $1419 for electricity in 2010 for electricity. This is a $300 increase a year for what homeowners typically pay for electricity.

This is the largest sustained increase in electricity prices since the 1970s. An analysis done on the Bureau of Economic Analysis indicates that Electricity has been consuming a greater share of Americans' after tax income since 1996. This higher cost is driven by greater electricity usage and higher prices per kilowatt hour. Although residential demand for power had been decreasing, it made a strong comeback in 2010 to a record high. Although household appliances and air conditioners consume less power than before, homes are now bigger meaning more air-conditioning and more electronics than before. Residential Solar Panels Los Angeles are becoming more popular as a global search for clean and renewable energy sources expands.

According to the reports of the Energy Information Administration, residential electricity prices have been climbing steadily hitting a record high price of 11.8 cents per kilowatt hour. This increase directly reflects the higher fuel prices and the expense of replacing old power plants. Higher electricity bills are a major problem for low income families. Duke Energy proposes that a rate increase saying that it is needed to replace the old power plants and make the transmission system more reliable.

An agreement was reached with North Carolina to raise utility rates for 7.2% instead of the 17% proposed request. However, Duke Energy is planning to ask for another rate hike next year to cover the costs of new natural gas-fired plants. Although the industry as a whole is facing higher costs, the exact electricity costs vary widely depending on where you live. "High taxes, limits on air-polluting fuels and the expense of maintaining an underground transmission system keep consumer costs high", says Chris Olert, ConEd spokesman.

For references please visit: http://www.usatoday.com/money/industries/energy/story/2011-12-13/electric-bills/51840042/1