Go Green without Sacrificing Lifestyle
The market for eco-friendly luxury homes is growing, thanks in large part to recent developments in renewable energy. In a single day, the Earth receives enough energy from the Sun to meet our energy needs for at least the next 20 years, reports Solarhome.org. It's a recipe for explosive growth in sustainable energy, and solar energy in particular presents a ripe opportunity for homeowners interested in going green.
Renewable energy technology allows homeowners to maintain the quality of life they expect from their high-end homes while pulling away or unplugging entirely from the power grid. Many rely on sustainable energy to lock in affordable utility costs while creating a light environmental footprint mindful of future generations. Americans are increasingly concerned about decreasing the nation's dependence on foreign oil supplies.
Many of solar power's benefits can be enjoyed even by owners of standard construction homes. The federal government encourages homebuilders to consider passive solar design, which turns a home's building’s site, climate and materials into eco-friendly advantages. Passive solar strategy uses energy-efficient strategies to reduce heating and cooling needs, then fills those smaller needs either wholly or partially via solar energy.
Green: The new color of the luxury home market
Luxury real estate buyers and green businesses alike are beginning to understand the impact of renewable energy strategies on the luxury home market. Chicago licensed contractor and HERS-and BPI-certified energy auditor Gary Quateman told Michigan Avenue magazine there are currently few ways for homebuyers to effectively compare homes marketed as Energy Star, LEED (Leadership in Energy and Environmental Design) or high-performance.
Even so, green home features can save homeowners a bundle, from hundreds of dollars by using Energy Star appliances and energy-efficient light bulbs, to thousands of dollars with high-efficiency mechanical modifications. An Energy Star-certified home delivers energy savings of 30 percent compared to other typical new homes.
With renewable energy systems in place, green-minded homeowners can feel free to indulge in energy-saving services, such as working with electronic home security companies, using powered media screens and window coverings, and employing all the green trappings that elevate the comfort of a high-end home. Other eco-friendly features now popular among owners of green high-performance homes include:
Programmable thermostats, such as the Nest learning thermostat.
Built-in charging stations for electric vehicles.
Energy-efficient appliances, such as Whirlpool's 6th Sense Live system, which let homeowners monitor and control energy consumption, and appliances such as smart refrigerators that perform high-energy tasks, such as defrosting and ice-making at night when energy costs are lower.
Solar pool heaters.
Energy-efficient, dual-zone air conditioning.
Low-VOC insulation.
Connecting with green real estate buyers
Finding eco-minded real estate buyers interested in adding high-performance lifestyle features with a sustainable touch to their homes could be as simple as tracking down the places they're most likely to buy and build homes. DSIRE (Database of State Incentives for Renewables and Efficiency) shows a map of what incentives are available in each state, from federal tax credits to city and state rebates and utility rebates. It is a smart way to target homeowners who are looking for the technology and lifestyle home features a green business can provide.
Laurie Moore, CEO of the Institute for Luxury Home Marketing, reminds businesses that luxury real estate buyers are typically early adopters of technology. They are active online and are likely to shop for a home and research real estate professionals — including those with special qualifications and education on energy efficiency and green building — on the Internet.
Opportunities within the eco-luxury home market
Builders and other green product and service providers can respond by making sure their clients get what they need to create the eco-friendly home of their dreams, with flexibility for the future. The Renewable Energy Ready Homes specifications developed by the U.S. Environmental Protection Agency (EPA) help builders assess and equip new homes with features that make it easier and less expensive for homeowners to install renewable energy systems after the home is constructed.
Even so, and despite the obvious practicality of many of these features, an aggressive approach to reducing a home's reliance on the power grid or removing it from the grid entirely could complicate financing. In the final analysis, it will take patience to finance a high-end green home in today's economy. Many banks are unfortunately far more anxious about the resale potential of a home that's not wired for standard electricity. The need for experts who understand energy-efficient homes, LEED ratings and high-performance homes will remain strong as buyers search for help connecting the dots.
Freshome names green living as one of the top home trends. As more high-end homeowners embrace sustainability, they will continue to seek systems that support the high-performance features they enjoy without compromising their environmental values. Green companies that can provide these features, especially when based on solar and other renewable power, will find growing opportunities in the luxury home market as this trend develops.