Pike Research, a market research and consulting firm whose focus is on clean technology recently released a new report focusing on Energy Efficient Homes. The report estimates that between now and 2014, homeowners will begin increasing their spending on energy efficient improvements. By 2014, it is expected to increase to $50.2 billion.
Until now, homeowners have been reluctant to invest in energy efficient upgrades. This reluctance has been in part due to the high cost associated with these upgrades. However, as the costs for energy efficient materials and systems have begun to decrease in recent years, so has homeowners interest in such improvement. This combined with tax incentives and an increase in consumer education regarding the long term savings will be the catalyst for this expected increase in consumer spending towards energy efficiency.
This expected demand for energy efficient homes has already led some homebuilders to begin offering some energy efficient upgrades and systems to homeowners as well as providing estimates on monthly energy costs. This new approach allows buyers who are energy-conscious a new way to compare home prices.
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