Homeowners unlock federal energy-efficiency rebates and drive market trends through home energy efficiency upgrades.
The housing market is on the brink of significant transformation, driven by emerging sustainability trends that are altering buyer preferences and construction standards. According to the 2023 National Association of REALTORS(r)’ Sustainability Report for residential sector highlights demand for energy-saving features transcending North-South or red-blue state boundaries.
Angi, the home improvement website, recently conducted a survey among homeowners regarding their major investment plans for the next five years. While traditional projects like bathroom remodeling and basement refinishing remain popular investments, new projects such as heating/cooling system upgrades or installing solar panels have gained in popularity; in particular one third are planning solar panel installations and one fourth plan heating/cooling upgrades. Notably 1 out of every 4 homeowners is considering solar panel installations while 1 out of 4 have planned an upgrade of some kind in their HVAC system.
New building codes designed to enhance energy efficiency and decrease household energy consumption have had an important influence on market transformation.
