Home Energy Ratings for Real Estate Agents in North Carolina

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(1)

RESNET

North Carolina ENERGY STAR

Conference

December 8, 2005

Steve Baden Executive Director

www.resnet.us

ENERGY STAR For Real Estate

Agents and Appraisers

(2)

RESNET

Home Energy Ratings

Home Energy Ratings

Are Voluntary

Accredited Rating Programs in all 50

States

Over 2,000 Raters Certified Across

U.S.

(3)

RESNET

National Home Energy Rating

National Home Energy Rating

Standards

Standards

Rating Program Administration

Technical Guidelines

(4)

RESNET

What Are Ratings Used For?

What Are Ratings Used For?

Energy Efficient Mortgages

ENERGY STAR Home labeling

Performance option for energy code

compliance in 16 states

(5)

RESNET

ENERGY STAR Homes

ENERGY STAR Homes

Voluntary Program of Environmental

Protection Agency to Reduce Carbon

Emissions

Considers all energy uses of home (heating,

cooling, water heating, lighting, appliances,

on-site energy production

Requires ratings following RESNET’s

standards

(6)

RESNET

RESNET Standards

RESNET Standards

Mandatory rater financial disclosure

Rating Code of Ethics

Rating Standards of Practice

10% review of electronic data files

1% field quality assurance review

(7)

RESNET

RESNET Standards

RESNET Standards

Accreditation of rater training institutions

Energy rater knowledge base and skills

set

Definition of minimum rater competencies

National on-line rater test

(8)

RESNET

RESNET Standards

RESNET Standards

Establishes technical procedures and

methods

Creates minimum reporting requirements

Specifies Reference Home characteristics

Sets minimum software tool requirements

(9)

RESNET

Need to Shift Thinking to

Need to Shift Thinking to

Optimized Systems Engineering

Optimized Systems Engineering

Most Builders Rely on Compliance With Minimum Prescriptive Codes

This results in:

- Missing Integrated Solutions That Address System Interactions

Optimized System Strategies Will Result in:

Higher Levels of Energy Efficiency

Efficient Use of Resources

Greater Durability

Improved Comfort

(10)

RESNET

Emerging Trend

Emerging Trend

Shift From Minimum Compliance to

Optimal Performance

Move to Consideration of Whole House

Energy Use

(11)

RESNET

Building Performance Advantages

Building Performance Advantages

+

Recognizes and Rewards Innovation

+

Gives Builder Greatest Flexibility to

Incorporate Most Cost Effective

Features That Makes Most Sense in the

Local Housing Market

+

Construction Savings More Than

Makes Up for Cost of Verification

(12)

RESNET

Performance Method

Performance Method

Where Viable Option Builders Will Choose Performance

2004 ENERGY STAR Homes Verification (131,763 Homes)

93% Performance Based (HERS)

7% Prescriptive Based

(13)

RESNET

Building Performance

Building Performance

Will Now Become More Attractive To Builders

Alignment Between (HERS) and Chapter 4 of the IEEC 2004 Supplement

Dynamic Growth in ENERGY STAR Homes and Home Energy Ratings

Ratings Most Practical Tool for Performance Compliance Documentation (Accredited Rating Programs in 50 States)

Potential Federal Tax Credit for Energy Efficient Homes That is Performance Base and Based Upon the IECC

(14)

RESNET

Energy Efficiency and the Appraisal

Energy Efficiency and the Appraisal

Traditionally Appraised Value Has Not

Reflected Economic Benefit of Energy

Efficient Home

(15)

RESNET

Appraisals Have Not Valued Energy

Appraisals Have Not Valued Energy

Efficiency

Efficiency

Why?

+ Most Efficient Features of Home Not

Visible

+ No Third Party Technically Credible

Method of Verifying a Home’s Energy

Performance

(16)

RESNET

New Trend

New Trend

+ Market Penetration of ENERGY STAR

Homes

+ National Third Party Technically

Credible Method of Verifying a Home’s

Energy Performance – Home Energy

Rating

(17)

RESNET

Example of New Trend

Example of New Trend

Melrose, Florida

Darty Appraisal Service reports added net value of $4,000 for ENERGY STAR rated homes

The value was added because the energy rating

determined that the ENERGY STAR upgrade would save approximately $40 per month in utility costs while adding only $20 per month in added mortgage costs.

(18)

RESNET

Still Nationally Appraisals Are Not

Still Nationally Appraisals Are Not

Recognizing Economic Vale of

Recognizing Economic Vale of

Efficient Homes

Efficient Homes

Reason Why Mortgage Industry Created

Energy Efficient Mortgages

(19)

RESNET

Energy Mortgages

Energy Mortgages

Increases the Home Buying Power of

Consumers and Their Home’s Equity

Energy Improvement Mortgage

Finances the Energy Upgrade of an Existing Home in the Mortgage Loan Using the Monthly Energy Savings

Energy Efficient Mortgage

Uses Energy Savings of Efficient Home to Increase the Consumer’s Buying Power

Capitalizes Energy Savings in the Appraisal

(20)

RESNET

Benefits of ENERGY STAR &

Benefits of ENERGY STAR &

Ratings to Real Estate Agents

Ratings to Real Estate Agents

Increases the Home Buying Power of Consumers and Their Home’s Equity

Energy Improvement Mortgage

Finances the Energy Upgrade of an Existing Home in the Mortgage Loan Using the Monthly Energy Savings

Energy Efficient Mortgage

Uses Energy Savings of Efficient Home to Increase the Consumer’s Buying Power

Capitalizes Energy Savings in the Appraisal

(21)

RESNET

Benefits of ENERGY STAR/Home

Benefits of ENERGY STAR/Home

Energy Ratings to Real Estate

Energy Ratings to Real Estate

Agents

Agents

Larger Pool of Potential Buyers Who Can Afford More of a Home

Present Information on Energy Performance of Home in Easily Understandable Terms

Easy to Market the High Performance of Home through EPA Label (Third party verified)

Take Advantage of Emerging Green Market and Concerns over High Heating Costs

(22)

RESNET

Tools for Marketing ENERGY STAR

Tools for Marketing ENERGY STAR

Homes

Homes

ENERGY STAR Resources

www.energystar.gov

Sales Tool Kit

Marketing and Sales Promotion

Sample Ads

Point of Purchase Marketing Materials

Builder Publicity Kits

(23)

RESNET

Comprehensive Review of Enhancements to

ENERGY STAR & Rating Standards

Federal Tax Credits

(24)

RESNET

Thank

You

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