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Bringing Energy Efficiency into the Real Estate Value Chain

Enhance real estate value with energy efficiency upgrades. Discover how data in MLS systems can quantify energy savings and impact sale prices to recoup costs. Learn about standard certificates for whole-house upgrades.

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Bringing Energy Efficiency into the Real Estate Value Chain

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  1. Bringing Energy Efficiency into the Real Estate Value Chain • Robin LeBaron • National Home Performance Council • July 19th, 2012 1

  2. The National Home Performance Council • National, non-profit organization • Supports whole-house upgrade programs through research and convening projects • Addresses problems that limit growth and development of whole-house programs 2

  3. NHPC Stakeholders • Federal agencies (DOE) • State energy offices (NASEO, MD, NY, TX) • Program implementers (CSG, ICF) • Utility sector (EEI, LIPA) • Industry (NAIMA, ABM) • Real estate (Eco-Brokers / AEEREP) • Non-profit stakeholders (ACEEE, ASE, EPC) 3

  4. NHPC Current Projects • Cost-effectiveness testing • Data collection and transfer standards • Smart grid and whole house energy efficiency upgrades • Incorporating energy efficiency data in MLS systems and appraisals 4

  5. Holy Grail: Capturing EE in RE value chain If energy efficiency is widely recognized to as increasing the sales price of a home… …owners can undertake upgrades with some assurance that they can recapture some or all of the costs at time of sale 5

  6. Real-estate valuation is data driven • Appraisers and lenders respond to market • Need proof that energy efficient homes sell for higher prices • Quantification of the “contributory value” of energy efficiency necessary 6

  7. Getting data into MLS systems is crucial • To assess the contributory value of energy efficiency, data is needed on: • Sales price of homes • Energy efficiency characteristics of home • Other home characteristics (to ensure apples-to-apples comparisons) • Multiple Listing Services are primary data source / repository 7

  8. Getting data into MLS systems is painful • Most MLS databases do not incorporate information about energy efficiency • Necessary to add fields to the databases: laborious and time-consuming process • What are the best fields to add so that energy efficiency can be captured in MLS systems? 8

  9. Retrofits particularly challenging • Challenges particularly great for upgrades / retrofits • Quantity • Complexity • Reliability • Liability 9

  10. Standard data set for certificate • BPI-2101-S-2011 Standard Requirements for a Certificate of Completion for Whole-House Energy Efficiency Upgrades • ANSI standard developed through stakeholder-driven consensus process • Process underway: goal is completion by September 2012 10

  11. Contents of standard • Standard set of data describing measures implemented • Can also include labels, savings projections and/or consumption data • Local programmatic customization assumed 11

  12. Standard helps addressdata entry issues • Certificate helps overcome challenges of getting information into MLS systems: • Quantity: Large amounts of data • Complexity: Simple for RE agents to upload • Reliability: Issued by knowledgeable third party • Liability: Reduced as a result of third party issuance 12

  13. Other uses of a standard certificate • Effective marketing tool for contractors • Helps homeowner recapture value of energy efficiency at time of sale • Adds value to an HP program’s core product • Preserves information about a home’s energy efficiency far into the future 13

  14. Comments / QuestionsPlease Contact Us National Home Performance Council Kara Saul-Rinaldi, Executive Director kara.saul-rinaldi@nhpci.org Robin LeBaron, Managing Director robin.lebaron@nhpci.org www.nhpci.org 14

  15. Thank you! 15

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