See photos and updates from listings directly in your feed
Share your favorite listings with friends and family
Save your search and get new listings directly in your mailbox before everybody else
Energy-efficient home upgrades reduce homeowners’ carbon footprint and offer a compelling solution to cut annual energy bills in half. While some consumers perceive green remodeling projects as expensive, a recent survey by Thumbtack, a renowned home services website, and Rewiring America, an electrification nonprofit, indicates that low-cost sustainable projects can yield significant savings. Furthermore, a growing number of homeowners prioritize sustainability, driven by a desire to lower energy bills, contribute to the planet, or meet the expectations of their neighbors. These findings are aligned with the National Association of REALTORS® survey, which highlights the value real estate agents place on promoting energy efficiency in listings. By incorporating green improvements, high-performance homes have witnessed notable increases in their dollar value of offers.
How to Make a Home Eco-friendlier: Addressing the primary concern of consumers on where to start, Nicole Staple, Head of Market Partnerships at Rewiring America, suggests a step-by-step approach to make homes more eco-friendly. Begin by assessing the age of appliances and conducting an energy audit of the property. Subsequently, develop a plan to gradually transition to efficient electric machines before the existing appliances end their useful lives.
Sustainable Upgrades on Various Budgets: Rewiring America and Thumbtack have provided a comprehensive breakdown of eco-friendly upgrades, considering different budget ranges and potential savings. Additionally, they have factored in government incentives, tax credits, and rebates, which can significantly reduce installation costs for these retrofits. Here are some notable upgrades based on different budget brackets:
Budget: Under $500
Energy-efficient lighting: Estimated cost of $240.56, with potential annual savings of $200 on energy bills.
Smart thermostat: Estimated cost of $239.53, potential annual savings of $100.
Budget: $1,000 to $5,000
Install EV charger: Estimated cost of $2,230 (excluding tax credits), potential annual savings of up to $1,000 through a 30% tax credit.
Double-pane windows: Estimated cost of $1,569 (for 5-8 windows), potential savings of $600 with a 30% tax credit, and $308 on yearly energy expenses.
Budget: $5,000 to $10,000
Heat pump water heaters (two to three times more efficient than traditional systems): Estimated cost of $5,280, potential savings of $1,750 in upfront costs (income-dependent), up to $2,000 through a 30% tax credit, and $120 in yearly energy expenses.
New insulation: Estimated cost of $9,469, potential savings of $1,600 in upfront costs (for income-eligible households), a 30% tax credit up to $1,200 per year, and about $400 in yearly energy expenses.
Rooftop solar panels: Estimated cost of $9,640, potential savings of 30% on upfront costs through government incentives (average of $2,892), and $100 in yearly energy expenses, even after financing the upfront cost of the panels.
Budget: $10,000 to $20,000
Heat pumps (three to five times more energy-efficient than traditional heating systems): Estimated cost of $16,588, potential savings of up to $8,000 (income-dependent) in upfront costs through government incentives, up to $2,000 in a 30% tax credit, and $330 in yearly energy expenses. *Households using electric resistance, fuel oil, or propane for heating can save over $1,000 on yearly energy bills.
Budget: $20,000 to $25,000
Complete all the above projects: Estimated cost of $23,000 (using incentives and rebates), potential annual savings of $2,500.
By embracing affordable eco-friendly home upgrades, homeowners can achieve substantial energy savings while contributing to a sustainable future. Despite initial concerns about cost, the long-term benefits far outweigh the investment. With many budget-friendly options and government incentives to support these initiatives, now is the ideal time for homeowners to embark on their journey toward a greener, more energy-efficient home.
