Energy Efficiency Will Help Drive Property Value
A long time marginalized player in real estate valuation, energy efficiency, is soon to take centerstage, according to The Passive House Network Executive Director Ken Levenson.
“Energy efficiency that’s integrated and predictable will drive value of the property,” Levenson said. Which will also incentivize buyers from the start, as they will be much more interested in purchasing a property that is going to increase in value as compared to one that won’t, or not as much. “Efficiency underlies what we value most—health, comfort, resilience. It also can be cost-effective and sustainable,” Levenson said.
According to the National Association of REALTORS, Levenson pointed to several examples where energy efficiency has paid off. In Philadelphia, an energy efficient home used 57% less energy per square foot than a median home in the area. In California, an energy efficient home was built using half the energy of similar homes during the state’s highest carbon-dioxide months of August and September.
