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August 4, 2009

Big Box Stores For Green Building Supplies

Posted by Steve Sacks under Green Economy, Innovators, Make Money, Marketing Ideas, Materials and Manufacturing | Tags: , , , , |
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New Home is a Bay Area-based company opening “Big Box” sized showrooms that will offer green building supplies for consumers and builders.  Rich Rifkin, the founder of New Home, plans to start by opening 10 stores in the Bay Area and Sacramento.  The stores will offer over 200, 000 products as well as educational materials and videos.  The first stores are slated to open in San Rafael and Dublin (two good places to start, IMHO). 

An online presence will be important to the success of the business, and Mr. Rifkin is off to a good start. The website, www.newhomeinc.com is under construction (pun, if there is one, intended), but offers a look at what’s to come.  Essentially, the website will offer a virtual version of the green building mega-stores. 

Everything is in the nascent stages, but Mr. Rifkin’s idea is likely bound for success.  With the overwhelming momentum of greening building codes, large outlets specializing in green products are not only novel, they’re essential.

The Conta Costa Times ran a good article on this: Click Here

Thanks to Jennifer Rankin for tipping me off to this story!

 

July 15, 2009

California To Get $183 Million to Weatherize Homes

Posted by Steve Sacks under Building Operations, Energy, Government, Green Economy, Incentives and Rebates, Law, Legislation, and Policy, Make Money, Save Money | Tags: , , , , , , |
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California will get $183 million in federal funds just to weatherize homes. Now, this is a tremendous improvement from the $6.3 million originally budgeted, but I’m speculating there’s a dark side to this story…

The reason there is a push of money into the weatherization program is because money in the American Reinvestment and Recovery Act (ARRA) that is set aside for construction is underutilized. Remember, projects need to be “shovel ready” to receive money under ARRA.  With state budgets in the tank before ARRA, there are not a lot of projects that fit the criteria. Now, money is still on the table, and the clock ticking. The federal government is looking for ways to spend and get the construction industry back on its feet.  

Weatherization is a good start.  It addresses remodeling, which is an area of construction that is woefully overlooked by the green building sector.

Check back here later to find out more about ARRA funds and green building.  In the meantime, click here  to read an article from the AP on the weatherization windfall.

 

January 8, 2009

Energy Efficient Mortgages Are A Big Win For Developers, Contractors, And Homeowners!

Posted by Steve Sacks under Energy, Finance, Incentives and Rebates, Make Money, Marketing Ideas, Mortgages, Save Money | Tags: , , , , , |
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Energy Efficient Mortgagaes (EEMs) or Energy Improvement Mortgages (EIMs)are special mortgages that give home purchasers or  home owners the option of purchasing a more expensive home with green features or installing energy efficient technology in a current home.  Lenders allow borrowers to borrow more money than they would otherwise permit because the savings in energy costs can be used to pay the added amount due on a note.

Some EEMs or EIMs have lower interest rates and lower down payment requirements.

The US Dept. of Housing and Urban Development has a great page explaining the logic.  (Click Here).  This is the basic analysis provided on their web page:

                                    Older                Same Home with
                                    existing home     energy improvements

Home price                        $ 150,000             $ 154,816
(90% mortgage, 8% interest)

Loan amount                      $ 135,000             $ 139,334

Monthly payment*               $      991            $     1,023

Energy bills                      + $      186        +  $         93

The true monthly

cost of home ownership        $   1,177               $   1,116

Monthly savings                                       -    $        61

Developers can use EEMs as a marketing tool to show how purchasers can actually SAVE money on their mortgage payment if they buy a more expensive home!  Contractors can make the same argument for home improvement projects.

California has helpful information on their “Flex Your Power” website (Click Here).

The Residential Energy Services Network also has lots of excellent information for home owners including information about EEMs and EIMs (Click Here).

 

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