The Green Home Movement: Craig Foley at TEDxSomerville

Craig Foley is the Chief of Energy Solutions for RE/MAX Leading Edge, and a co-founder of inCharge Energy. Craig is also the author of the first report on hi...

Views: 207

Comment

You need to be a member of Home Energy Pros to add comments!

Join Home Energy Pros

Comment by Craig Foley on June 5, 2014 at 12:44pm

Hi James, thanks for your kind words.

Before I answer the question about the market value of distributed generation and EE improvements, I think it's worth talking about some of the challenges my industry faces in addressing these issues. it is not uncommon for the average agent to answer the question with a quick roll of their eyes and a under the breath "There is no value" response. That kind of response is fairly common here in MA, but I am guessing it is true throughout the U.S. The response is understandable when you consider we are in the midst of an energy paradigm shift; assumptions about how we produce and consume energy are rapidly changing. Terms/acronyms like solar PV, ASHP, PPA, AFUE, HERS rating, energy performance scores take traditional agents/brokers out of their comfort zones. The natural reaction for many is a derogatory statement involving the word "green." That's too bad; it holds back market transformation because of short term thinking and insecurity. If a buyer or seller hears a RE agent reply like that, my advice is run in a different direction as soon as possible.

The general rule of thumb is that for each dollar saved by EE improvements it equates to roughly a $15-20 value at the time of sale. When I investigated this issue in the MA market in 2012, I found this to be in line. I work for a large RE firm in MA that had 12 offices in the Greater Boston area at that time. Hearing complaints from several of the agents in our offices that buyers didn't want to buy homes heated with oil I investigated. Given that the EIA projected that the average home heated with oil would cost the homeowner $2553, and that the average homeowner that heated there home with NG would cost $1007 for the 2012-2013 heating season, I wanted to see if there was a price premium buyers were paying for homes heated with NG. After studying all the homes that sold in 2012 in our 12 communities I found that there was an $11 per sq ft price premium for homes heated with NG. For a 2000 sq ft home this equates to a $22,000 premium. Using the $1500 delta between oil and NG, that equates to for everyone dollar saved in the NG home it equated to $14.67 of value.

Comment by James White on June 5, 2014 at 12:01pm

Very well done presentation Craig.  Definitely worth watching.  I like your statement that we each have both an opportunity and an obligation to reduce our energy consumption.  It would be interesting to hear from a realtor's perspective how much value was added by the energy efficiency improvements and distributed generation system installed at the home you mentioned.

Welcome to Home Energy Pros

Welcome to Home Energy Pros – the unique digital community by and for those who work in the home energy performance arena.

Home Energy Pros was founded by the developers of Home Energy Saver Pro (supported by the U.S. Department of Energy) and brought to you in partnership with Home Energy magazine.  Home Energy Pros is sponsored by the Better Buildings Residential Network. Please honor our Guidelines

Featured Blogs

Seeking Innovation in Roofing Systems

Posted by Sarah OConnell on May 12, 2017 at 9:47am 0 Comments

Oak Ridge National Lab has partnered with GAF to host a technology challenge on roofing systems.  The challenge is part of the online crowdsourcing site, JUMP, and aims to identify innovation solutions for ensuring energy efficient and durable…

Continue

Top tips for maintaining an evaporative cooler

Posted by Kobus Niemand on May 4, 2017 at 3:30am 0 Comments

Evaporative coolers, also known as swamp coolers have become a top choice for anyone looking for an alternative cooling solution from their home or office. In the past, evap cooler technology was limited for use in large operations that have easy…

Continue

Congratulations to the 2017 Race to Zero Winners!

Posted by Home Energy Magazine on May 9, 2017 at 6:56am 0 Comments

The Ryerson University and University of Toronto team topped the …

Continue

Connecting the Dots: Real Estate and Home Performance

Posted by Home Energy Magazine on May 9, 2017 at 6:50am 5 Comments

A new type of conversation between REALTORS® and their clients is changing the real estate industry before our eyes. As homebuyers browse Zillow listings and spend…

Continue

Latest Activity

Andrew Etue added a discussion to the group Job Board
Thumbnail

Washington State Seeks Weatherization Field Monitor

Washington State Department of Commerce in Olympia, Washington is recruiting for a Weatherization…See More
7 hours ago
Andrew Etue joined Diane Chojnowski's group
Thumbnail

Job Board

This group is for posting jobs related to all aspects of the home performance industry including…See More
8 hours ago
Horace Douglas Hunt, Jr. posted a status
"Still looking to purchase a used RetroTec blower door - complete system. Anyone have something available?"
15 hours ago
Sean Lintow Sr replied to Luis Hernandez's discussion Solar panel leasing
"Sorry but no, not that big of a thing up here Biggest issue I see for most is everyone grid ties…"
yesterday

© 2017   Created by Lawrence Berkeley National Laboratory.   Powered by

Badges  |  Report an Issue  |  Terms of Service