By a News Reporter-Staff News Editor at Investment Weekly News -- New research on Energy is the subject of a report. According to news reporting originating from Atlanta, Georgia, by VerticalNews correspondents, research stated, “Building energy efficiency labeling programs are promising strategies to encourage investments in green buildings. It is necessary to explicitly measure the value of energy efficient labels from an economic perspective that is more understandable to both developers and buyers.”
Financial support for this research came from National Science Foundation.
Our news editors obtained a quote from the research from the Georgia Institute of Technology, “This research not only documents evidence on whether a sales premium exists for energy-certified homes but also investigates the effects Of market characteristics on the magnitude of the added value of building energy efficiency labeling programs. A hedonic pricing model of 1679 single-family home sales in the metropolitan Atlanta area in the U.S. is developed, with numerous explanatory variables (such as location, time of sale, green features, and other housing characteristics) taken into account. (i) Homes that earn energy certificates demonstrate a sales price premium of 11.7%, which equates to a dollar value of over $47,000 in Atlanta’s housing market; (ii) The regional energy labels certificated by the EarthCraft House receives higher recognition in the marketplace than that by national Energy Star programs. (iii) The certified homes that are located in the top school districts (i.e., with the top 50 schools) enjoy a substantially higher increase in the home sales premium, compared to green homes in districts with the low-quality schools. A random sampling method is further used to ensure the quality of the regression results with the limited size of the dataset by eliminating stochastic effects of the selected dataset.”
According to the news editors, the research concluded: “This research contributes to (i) the body of knowledge by analyzing the market value of building energy efficiency labels in the residential housing market and (ii) the state of practice by shedding light on the information asymmetry problem between home developers and buyers in the housing market to facilitate the adoption of energy labels in building products.”
For more information on this research see: Valuation of energy efficient certificates in buildings. Energy and Buildings , 2018;158():1226-1240. Energy and Buildings can be contacted at: Elsevier Science Sa, PO Box 564, 1001 Lausanne, Switzerland. (Elsevier - www.elsevier.com; Energy and Buildings - http://www.journals.elsevier.com/energy-and-buildings/)
The news editors report that additional information may be obtained by contacting L.M. Zhang, Georgia Inst Technol, Sch Civil & Environm Engn, Atlanta, GA 30332, United States. Additional authors for this research include Y. Li, R. Stephenson and B. Ashuri.
The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.enbuild.2017.11.014. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.
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CITATION: (2018-04-21), Reports from Georgia Institute of Technology Describe Recent Advances in Energy (Valuation of energy efficient certificates in buildings), Investment Weekly News, 637, ISSN: 1945-8185, BUTTER® ID: 015502161
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