Energy Efficiency: What Homebuyers Want

Are new homebuyers really interested in energy-efficient homes? If we look at the data, then it seems the answer is yes, as more homeowners are often claiming home-related energy-efficiency tax incentives today.

But let’s back up a bit because these types of tax incentives for homes are relatively new in the past two decades. If we look back to 2005, Congress began establishing many energy-efficiency tax incentives for housing. The benefits extend to both new homebuyers and remodeling homeowners—and let’s not forget the most important point here is to have a lasting impact on the environment around us.

A closer look shows us the policies include section 25D of the internal revenue code, which is a tax credit for the installation of power production property in new and existing homes. From 2019 to 2020, claims associated with solar electric power grew by 86,000 taxpayers and $2.1 billion.

The NAHB (National Assn. of Homebuilders) analyzed data to discover most of the claimed qualifying activity for the credit in 2020 was the installation of solar electric property. In fact, more than 600,000 taxpayers claimed the credit for almost $12.6 billion in qualifying installation costs.  

Solar panels are a great option to help reduce emissions and long-term costs in homes, but as most of us already know, they can come with a steep price tag. While the cost often depends on the type of system, roof type, and location of the home, the average cost can range anywhere from $3,000 to $35,000. Tax incentives can certainly help, but there are still a lot of considerations for the average consumer. Some of the biggest tax credits really depend on where you live in the country, as we have already reported.

The second most common installation in 2020 was for solar water heating, which was claimed by roughly 114,000 homeowners and totaled almost $627 million in installation costs, according to the association.

In addition to analyzing this data, NAHB also surveyed homebuilders about the features they will most likely include in new homes they build this year. The results show five of the top 15 features have an energy efficiency focus. These include:

  1. Low-E windows
  2. Efficient lighting
  3. ENERGY STAR-rated appliances
  4. ENERGY STAR-rated windows
  5. Programmable thermostats

Additionally, the association uncovered that for repeat homebuyers, ENERGY STAR windows, appliances, and energy-efficient lighting were listed in the top 10 most wanted features in a new home. In the weeks ahead I will share more about our decisions, including the companies and products we selected with the Living Lab. What tops your list of home features? Are they energy efficiency focused? Does solar factor in? Is the tax incentive a driving factor in this decision?

Want to tweet about this article? Use hashtags #IoT #sustainability #AI #5G #cloud #edge #futureofwork #digitaltransformation #green #ecosystem #environmental #circularworld

The post Energy Efficiency: What Homebuyers Want appeared first on Connected World.



from Connected World https://connectedworld.com/energy-efficiency-what-homebuyers-want/
via IFTTT

Comments

Post a Comment

Popular posts from this blog

Funding and Partnerships

Money makes the world go around, some say. Relationships make the world go around say others. Combine the two and you can get dizzy going around and around. In technology, though, the combination of funding and partnerships does, indeed, make things happen. Construction, being a niche market, often draws less interest from general software companies, leaving the field to the specialists. Once a product has been proven, however, general investors will come aboard, and like-minded technology companies will sign on as partners or integrators. Take StructionSite , as an example. The company is a provider of intelligent project tracking software for construction and recently announced $10 million in funding that includes new institutional capital from 500 Global as well as strategic investments from PCL Construction and GS Futures. The new funds will be used to expand StructionSite’s platform capabilities and extend its position in the market. The company also announced its latest partne
Read more

The Next Generation of Wearable

Image
Imagine this: In a manufacturing plant, workers can do picks without getting off their vehicles. They have a forklift they are driving, and they can get the next picking instruction while still driving because they can scan the barcode from a distance. Or what about this: Wind turbine workers can climb up and down and leave the laptop on the ground. At the same time, technology is self-documenting, and the reports are creating themselves. This is what the future of work will look like with the help of assisted-reality wearables for frontline workers. Assisted reality is a non-immersive experience and has become a good solution for frontline industrial workers, especially where high situational awareness is necessary. Assisted reality experiences are closer to the physical world—when compared to VR (virtual reality) and AR (augmented reality) experiences that immerse workers in the metaverse. Consider this example of assisted reality. In December, RealWear unveiled RealW
Read more

Most Common HVAC Problems

Image
Many of us depend on our heating and air conditioning (HVAC) system because we love the convenience of the ability to make our house warmer or cooler. The post Most Common HVAC Problems appeared first on At Home in the Future . from At Home in the Future https://athomeinthefuture.com/2021/10/common-hvac-problems/ via IFTTT
Read more