Increased Demand for Green Building from Home-owners
A survey which was recently released by the National Association of Home Builders (NAHB) shows that energy efficient homes are in high demand. Tim Woods, chairman of the organization, discusses how members have stated the increased demand for efficiency in design and functionality.
Given the technological advances, homes can be more energy efficient for a more reasonable price than ever before. The survey reveals that millennials highly prefer products with Energy Star certifications when they are searching for a new home, and are willing to pay as much as three percent higher for such items. These findings certainly should not be ignored as millennials will continue to make up an increasing percentage of the prospective home buyers for the foreseeable future.
Five out of six of those who were surveyed stated that they prefer Energy Star rated items, energy efficient windows, and programmable thermostats. A sizable number of respondees are also looking to improve the indoor environmental quality by utilizing locally sourced and sustainable items within their household.
Another survey from the National Association of Home Builders shows that the more than a quarter of builders are now consistently installing energy efficient products such as photovoltaic solar panels or geothermal heat pumps.
The federal government is offering tax credits of up to thirty percent for the installation of alternative energy items in one’s household. This offer will expire by the end of 2016, so homeowners should look to make the switch sooner rather than later.
This survey comes in the wake of a report conducted by McGraw Hill Construction that showed the increase demand for green building in a number of sectors. The hospitality and retail industries are particularly interested in such sustainable features as more than half of all owners have invested in green building technology for their facilities.