Currently Reading

Household Energy Use Increases Due to Pandemic, Energy Mortgages May Help

Advertisement

Household Energy Use Increases Due to Pandemic, Energy Mortgages May Help


September 10, 2020
House at night with lights on using energy
By Harry HU

As Americans have stayed mostly indoors, their energy usage skyrocketed. According to a Freddie Mac report, household electrical usage in late March was 22% higher than the same time last year. Midday consumption rose by 35%, mainly due to telecommuting, the desire for more rooms to supplement business closures, such as exercise rooms. Homeowners may want to consider more energy efficient appliances, ventilation, HVAC, windows, and more, says NAHB. But energy or “green” mortgages could address the increase in energy usage while increasing a home’s value and affordability.


Some local utility companies in states such as California, Michigan and New York have asked consumers to moderate electricity usage as a result of this increased demand. To reduce energy consumption and utility bills, home owners may want to consider upgrades such as energy efficient appliances, heating, ventilation or air conditioning (HVAC) units, windows and doors, as well as the addition of air sealing, insulation, solar panels or geothermal heating.

Although any new purchases or upgrades may cause some to pause based on their current economic situation, energy or “green” mortgages can offer home owners an opportunity to purchase homes that utilize these technologies through mortgages that permit higher debt-to-income ratio requirements. Not only can such energy-efficient upgrades help decrease monthly utility costs, but a study released by Freddie Mac last year has also shown that such features and green-building certifications can increase a home’s market value.

Read More
 

Related Stories

Net Zero

Could Every U.S. Home Be Retrofitted to Zero-Energy?

The average American home still runs on fossil fuels, but one report has found a feasible plan to transform each home into a zero-energy one. The…

Community Development

Developer Plans Car-Free Neighborhood in 'Walker's Nightmare'

Well known for being a walker’s nightmare, the metropolitan area of Phoenix will now be home to the first car-free neighborhood in the country.…

Net Zero

Net Zero Energy: The Ultimate Z.E.N. Home's Comfort Solution

The Ultimate Zero Energy Now Home took a team approach to conquer aggressive performance and cost goals and deliver optimum indoor comfort.

Advertisement

More in Category




Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.