At a recent seminar I attended about Green Real Estate, I heard about the challenges some home-sellers faced when they tried to sell energy efficient features of their home.
These sellers received zero dollar value for a $35,000.
00 solar energy system on the resale of their homes! The buyers were interested in the energy saving features, but not willing to put a dollar value towards the improvements.
The Ontario government is leading the way to energy reform by tabling a new Bill 101 - Home Energy Audit Act 2008, an act respecting energy rating for specified residential buildings.
This Energy Rating Act, if passed by Ontario Government, will require anyone selling a house or low-rise building to disclose the results of a home-energy audit to prospective buyers.
New homes will also come with energy ratings.
Responsible home owners will finally benefit from retrofitting their homes with energy saving features.
Homes that require less energy will increase in property value.
Home efficiency ratings will create a demand for new and resale homes that use less energy, ultimately increasing their property value compared with less-efficient homes and pressuring new home builders to go beyond minimum building code standards.
In addition, the government is providing funds to help home owners make their homes more efficient.
At this time the government will pay 50% (up to $150.
00) for a home energy audit and then a further amount towards certain projects suggested in the audit report.
The energy grants can also be combined with the new Federal Canadian Home Renovation Tax Credit of up to $1350.
00.