THE MANY BENEFITS OF Energy-Efficient Homes

Consumer efforts to be more eco-conscious are more and more noticeable. For proof of that, one need look no further than the increase in vehicle charging stations. Such stations are more accessible than ever and illustrate that consumer preference is increasingly leaning toward products that leave as small a carbon footprint as possible.

Another indicator of a growing interest in eco-friendly products is the popularity in energy-efficient homes. In fact, a recent survey from the National Association of Home Builders found that energy-efficient features are among the most sought-after “must-haves” among homebuyers. Among those surveyed, 83 percent desired Energy Star-rated windows, 81 percent wanted Energy Star-rated appliances and 80 percent preferred energy-efficient lighting.

Though eco-conscious sensibilities compel millions of homeowners to make their homes more energy-efficient, that’s not the only reason to upgrade your home. The following are a handful of the many benefits of energy-efficient homes.

· SAVE MONEY: Inflation was one of the biggest stories of 2022, as the cost of living rose dramatically in the wake of world events. According to data from the U.S. Bureau of Labor Statistics, inflation led to an overall 6.5 percent increase in prices. But that increase was dwarfed by the cost of electricity, which increased by 14.3 percent in 2022. Energy-efficient appliances can help homeowners overcome that spike, as the U.S. Department of Energy indicates upgrading to such products can help homeowners reduce their energy costs by as much as 30 percent.

· IMPROVE RESALE VALUE: As the NAHB survey indicates, modern homebuyers want energy-efficient homes. They’re also willing to pay more for such homes. Research from the mortgage lender Freddie Mac found that homes with energy-efficient ratings sold for nearly 3 percent more on average than homes without such ratings.

· LIVE HEALTHIER: The benefits of energy-efficient homes aren’t just economic, though health-related benefits certainly produce an economic incentive as well. According to the American Council for an Energy-Efficient Economy, insulation and air sealing protect individuals from heat waves and other ripple effects of climate change. The ACEEE notes that weatherization can improve indoor air quality and comfort, a notable benefit for asthma sufferers and seniors. In fact, the ACEEE estimates that integrating energy efficiency programs in homes could reduce seniors’ risk for falls in their homes, poten tially saving $2 billion in fall-related health care costs over the next decade, and improve asthma outcomes, which could reduce health care costs by as much as half a billion dollars.

Energy-efficient products and practices pay numerous dividends, making them a worthy expenditure for any homeowners looking to upgrade their homes.

Community solar is the ultimate win-win for Maine residents and businesses. Our legislature made community solar programs possible in 2019 to help the State reach its renewable energy goals and to help utility customers off-set the cost of upgrading our electric grid. When you sign-up with a local community solar farm you’ll save 10-15% on your electricity costs and support the development of local, renewable energy projects.

There have been several recent articles weighing the benefits and costs of renewable energy projects to the people of Maine. The takeaway from this reporting is clear. Maine is moving toward renewable energy and we, as taxpayers and utility customers, have and will continue to invest in this transition. Community solar programs are a sure way for us to recoup some of the money we are investing.

Maine Community Solar is a local organization educating businesses and consumers about the benefits of community solar and helping them enroll in the program that’s right for them. We’re on a mission to help Mainers reap the benefits of community solar programs while making our state a leader in sustainability and renewable energy!

During the past two and a half years we’ve helped hundreds of businesses and thousands of consumers understand community solar programs and take advantage of the savings. You’ll see our team members at community events, chamber of commerce meetings, online webinars, canvassing local neighborhoods, on social media, or hear from us via telephone or email.

Free community solar subscription programs are part of the state’s Net Energy Billing program so they work the same way as rooftop solar installations or “pay-toparticipate” options. The key difference is the tradeoff between commitment and benefit. Both options are great depending on the needs and goals of the customer.

Because there are no costs to join, fees to cancel, and no long-term commitment, the free community solar programs offer 10-15% savings on a customer’s total annual electricity costs. This is in contrast to consumers or businesses that purchase their own array. The larger annual electricity savings and tax benefits are offset by a large financial investment or financing commitment.

Community solar subscription programs are a great option to drive large-scale adoption of solar energy because there is such a low barrier to entry and customers will always save money. That’s why we see it as one of the keys to Maine reaching its renewable energy goals.

Community Solar Subscriptions

QUICK FACTS

• 10-15% savings guarantee for consumers and businesses

• Free to join, no fees or costs to exit the program

• No equipment to purchase, install, or maintain

• Powered by Maine’s Net Energy Billing program

• Works for renters and may be transferable if you move within the same utility service area

ADDITIONAL RESOURCES:

• Maine Community Solar website at www.mainecommunitysolar.org

• Maine Public Utilities Commission website

• Maine Office of the Public Advocate website