Study says energy efficient homes can save $2,000 a year

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Study says energy efficient homes can save $2,000 a year

Fri, 03/27/2009 - 5:02am -- tim

The Vermont Housing and Conservation Board (VHCB) released a study analyzing the total energy usage of very energy efficient homes constructed in Proctorsville. The results demonstrate that high levels of energy efficiency make a substantial difference in the cost of owning a home.
Bruce Whitney of the Rockingham Area Community Land Trust (RACLT) in Springfield commented, The amount of savings generated by these extremely efficient homes is incredible. They truly make homeownership affordable.
This study was conducted by Andy Shapiro, an expert in energy efficiency and green building. The Proctorsville Green Townhouse homes recently received the Best of the Best Award from Efficiency Vermont for energy efficient single-family homes.
The study examined new houses built in four different regions of the state. Each of the development projects was built to Energy Star ratings an energy efficiency standard employed by Efficiency Vermont. The energy use of each of the homes was compared to the energy usage of typical homes of the same size and type. The results showed that in the first year the Energy Star rated homes would save the owner between $2,000 and $2,700 on energy costs.
Analysis of propane and electricity usage at the Proctorsville Green townhouse showed an energy savings of $200 per month, or $2,400 per year. The cost savings over the 30-year life of the mortgage, when calculated at constant rates and not accounting for inflation is $72,000. When calculating for a 4% annual inflation of fuel costs, the savings over 30 years is roughly $340,000. The Proctorsville Green Townhouses are priced at $80,000 and at current interest rates an owner s payment will be approximately $825 including taxes and condominium fees (5.5% interest rate, 30 yr term).
Homebuyer grants provided by VHCB and other sources lower the purchase price of the energy efficient homes by up to $40,000. Other homes included in the study are for sale by Windham Housing Trust, Central Vermont Community Land Trust and Champlain Housing Trust. To learn more, visit http://www.vthomeownership.org. The Vermont Housing and Conservation Board is an independent state agency that provides loans and grants to create permanently affordable housing and to conserve agricultural and recreational lands, natural areas and historic properties.
For more information about the Proctorsville Green Townhouses, contact Bruce Whitney of RACLT at 802-885-3220 or bwhitney@raclt.org.