Sustainability is becoming a priority for many homeowners and homebuyers.
The housing market is on the brink of a substantial shift, propelled by the changing landscape of sustainability trends that are influencing buyer preferences and home construction standards. The 2023 National Association of REALTORS®’ Sustainability Report reveals a consistent demand for energy-efficient features within the residential sector.
In a recent national survey conducted by ANGI, the home improvement website, homeowners were asked about their major investment plans over the next five years. While traditional projects like bathroom remodeling and basement refinishing maintain their popularity, the ANGI survey reveals a growing interest in upgrades to HVAC systems and installing solar panels. Notably, one in three homeowners is contemplating solar panel installation, and one in four is planning a heating and cooling system upgrade.
The implementation of new building codes, designed to augment energy efficiency and reduce household energy consumption, has also played a pivotal role in this market transformation. According to the U.S. Department of Energy’s Building Energy Codes Program, newly constructed residential buildings witnessed nearly a 30% improvement in energy efficiency between 2006 and 2015, attributed to updated building code requirements. Since 2009, nearly every state has revamped its building codes, contributing significantly to the reduction in energy usage.
You can find out more about some of these programs in this article written by The National Association of Realtors
1. High-Efficiency Electric Home Rebate Act (HEEHR)
2. Homeowner Managing Energy Savings Program (HOMES)
3. Clean Energy Tax Credit (Code 25D)
4. Energy-Efficient Home Improvement Tax Credits
5. EV Charging Station Tax Credit
6. Optimizing Savings With State and Local Incentives
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