Homebuyer and commercial tenant priorities have become more eco-conscious in recent years. According to a survey from the National Association of Home Builders of 4,000 recent homebuyers or those aspiring to own within the next three years, many buyers prefer green options when presented with information about convenience and utility savings. On the commercial side, the US Green Building Council reports that building owners see a 10% or greater increase in asset value with 20% lower maintenance for green buildings. Read on to learn more about four top “green” options that drive value:
1. High-Efficiency Heating and Cooling
Data from the National Association of Home Builders shows that 86% of potential home buyers rank Energy-Star Appliances as “essential” or “desirable,” while 49% of people in the NAHB study said that they would be interested in Geothermal Heating & Cooling. An important driver for consumers is the utility savings: The National Renewable Energy Laboratory cites a study in the Appraisal Journal, which shows that home value increases $20 for every $1 reduction in annual utility bills. Modern high-efficiency heating & cooling units can lower utility bills while providing equal or better comfort for residents, making the investment an easy choice for long-term satisfaction and resale value.
2. Solar PV
Got sunshine? Not only are solar panels a popular option for environment-conscious consumers, but the appeal of rolling the initial investment into the mortgage and potential for significant energy savings make financial sense as well. The Office of Energy Efficiency and Renewable Energy reports that a solar energy system will likely increase a home’s value, and that buyers across the country have been willing to pay an increase of approximately $15,000 for a home with an average-sized solar array. On the commercial side, the larger available rooftop footprint often provides capacity for significant solar production. EnergySage market data suggests that the average commercial property owner in the U.S. can reduce overall energy costs by 75 percent by going solar. We know this firsthand: at the JK Mechanical office, we are better than net zero. On a 12-month basis, our rooftop solar array produces an average of 10,000 kWh more per year than we consume with little to no maintenance needs, providing a positive financial (and environmental!) benefit even before other solar incentives are considered. Combined with the federal tax credit currently at 22% and deductions for appreciated assets, the payback time for solar may be much shorter than you think.
3. Tankless Water Heater
Tankless Water Heaters, or On-Demand water heaters, provide hot water as needed rather than maintaining storage tanks. The initial cost of a tankless water heater is greater than that of a conventional storage water heater, but tankless water heaters will typically last longer, are less leak-prone, and have lower operating and energy costs, which could offset its higher purchase price and provide more value to buyers. For homes that use 41 gallons or less of hot water daily, demand water heaters can be 24%–34% more energy efficient than conventional storage tank water heaters. The on-demand nature also makes tankless water heaters a great option for certain event venues and offices, where demand for hot water is sporadic but essential– and reliable!– when called for, offering even greater energy savings at non-peak times.
4. Indoor Air Quality
In a post-COVID landscape, promoting indoor air quality solutions is more important than ever. Indoor air quality might not seem like a “green” consideration, but many energy-efficiency and code factors such as insulation, humidification, and sufficient ventilation are key indoor air quality issues as well. Your experienced JK Mechanical estimator or service technician can offer suggestions and solutions that balance health and safety concerns with local code for your project.
From design and construction through regular maintenance and service, JK Mechanical strives to serve our clients, and their clients, for life. Talk to your trusted JK Mechanical professional today to discuss how adding green features to your new construction or commercial project can increase value and build client satisfaction.