Visiting Scholar
University of California, Berkeley
When shopping for a new car, one of the most prominent features on display is the miles-per-gallon (MPG) usage of the vehicle. There is an EnergyGuide label for dishwashers, clothes washers and other appliances, and an Energy Star label for the most efficient appliances. But when buying a home, there is usually no information on its energy efficiency — which is strange, considering the substantial impact that monthly expenditures on electricity, gas and water have on disposable income. For many people, energy is the single largest monthly expense after mortgage or rental payments.
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| Photo credit: Zeck Butler Architects |
The recent surge in the labeling of more efficient, “green” homes should therefore be good news for people who want to make a more informed decision when purchasing a new home. In Europe, an energy label for homes has been in place for some years now, providing prospective homebuyers with a simple assessment on the energy efficiency of a dwelling. Consumers seem to value this type of information: a large-scale study on the effect of energy labels on the selling prices of homes in the Netherlands shows a price premium for more efficient homes.
Now there is comparable evidence for the U.S.
