Pearl Certification’s Post

In a new Blog post, The American Council for an Energy-Efficient Economy (ACEEE), discusses the disproportionately high cost of heat/fuel for low income households. Read all about it: https://lnkd.in/gSRFi6XM

We’re officially in the midst of the summer, and it’s looking like it’s going to be hot. Most indicators point to a hotter-than-average summer in fact. This is paired with the fact that consumers in the U.S. are dealing with the higher inflation. We’re paying more for everything, including energy costs.

As Reserve Bank data reveals increased financial strain on households, coupled with governments tightening budgets, how can we retrofit the 7 million existing homes that it is projected will not have been subject to improved energy efficiency measures by 2050? The Institute for Sustainable Futures is proposing a “regulatory nudge” that would unlock financing for green retrofits at the most cost-effective interest rate, housing loan interest rates. Our report, Scaling Green Retrofit Housing Finance, argues that for Australian financial institutions to be able to offer households the opportunity to finance green retrofits at scale there is a need for Australia’s regulatory framework to support innovation. Because green retrofits have the potential to improve bank credit risk by reducing household costs associated with spiking energy prices, APRA should consider issuing prudential guidance to banks that would enable housing loans to be increased for small amounts to finance retrofits. We propose that APRA identify a cohort from the lowest loan repayment quartile that have low loan to valuation ratios, high liquidity buffers and mortgage payments that are not in arrears that would be eligible for a pilot. These three factors combine to identify low risk customers from a bank perspective. An example of a green retrofit housing loan extension would be to provide finance to housing loan customers to enable them to replace gas appliances in their homes. A housing loan could be increased by as little as $5,000 with benefits to the household in terms of reduced bills whilst also supporting Australia’s transition to net zero emissions. We are currently seeing some innovations around financing of green retrofits.  We have however yet to see innovations that are targeting the 766,220 loans that are in the lowest loan repayment quartile group of housing loans. With energy prices spiking, if a household is not able to make energy efficiency investments to their homes that help to reduce their energy bills, there is a danger that households would be exposed to what we describe as a “net zero poverty premium.” https://lnkd.in/gR9Eb2cB

The Social Market Foundation's report delves into the key factors motivating landlords and owner occupiers to insulate their homes, a vital step in the UK's journey to decarbonise home heating. The study highlights the importance of government regulations, the need for credible information sources, and financial solutions to address upfront costs. It offers actionable recommendations to improve trust in the insulation industry and facilitate compliance with energy efficiency standards. Essential insights for policymakers and stakeholders in the housing sector. Read the full report at https://lnkd.in/ecvTq8Fb

Discover how the Home Rebate program under the Inflation Reduction Act is positively impacting the lives of low- and moderate-income households. Gain valuable insights into how the IRA can prioritize equity in implementing clean energy initiatives to ensure that those who need it most can benefit. #EnvironmentalJustice #CleanEnergyForAll #IRA

Discover strategies to benefit from emerging homeownership trends and harness building permit data for savvy investments. Explore insights into the housing landscape to maintain a competitive edge👇 https://ayr.app/l/N1Yd #selfstorage #selfstoragefacility #selfstorageinvesting

Exciting news came in today regarding the Home Performance with ENERGY STAR program. Instead of expiring in 2022, it has been extended through December 2024! This means that if you live in an older home and have been considering air sealing and insulation, now is the perfect time to take action. This program provides a fantastic opportunity for building shell improvements, like insulation and air sealing, helping create a more comfortable and energy-efficient living environment. Not only that, but this year has seen the introduction of new tax credits, making it the best time ever to consider making these types of home improvements. It's a win-win for homeowners, enhancing your home's efficiency while also benefiting from potential savings. Keep your eyes on this December. That's when the utilities will share their proposals for the next phase of these incentive programs, Triennium 2, starting in 2025. What can we expect? A strong focus on decarbonization and electrification to help safeguard our environment. And here's the best part: these future programs are poised to offer expanded benefits to low and moderate-income households, too. We'll update you as the Board of Public Utilities (BPU) pieces together the complete picture for Triennium 2. In the meantime, New Jersey homeowners need to think strategically about their home improvements and stay current on the available incentives and tax credits. Your investment in creating a more energy-efficient home boosts comfort and savings and helps contribute to a better future for our community and planet. #energyefficiency #njrealestate #njhomes #energystar

The Inflation Reduction Act is making it much more affordable to electrify a home. Rebates could help low- and middle-income households save thousands on heat pumps, weatherstripping, and other efficiency improvements. #InflationReductionAct #IRA #Electricity

There is a big awareness gap when it comes to home energy efficiency. A YouGov survey found that 60% don’t know what home retrofitting is. And out of those who are familiar, 57% say they haven’t seen any information about how to take action. Banks can help bridge this gap by educating their customers about their energy footprint, recommending personalised energy-efficient home improvements, and promoting trusted retrofitting suppliers. Discover how in our latest blog: https://lnkd.in/eahBsQ88 #homeenergy #homeretrofit #homeenergyefficiency #decarbonising #greenbanks #sustainablebanking 

Did you know that only 30% of Brits feel confident in their ability to make their homes net zero-ready? 🏠💚 While energy bills and usage remain top concerns for homeowners, only a third (33%) have undertaken measures to improve energy efficiency in the last five years. But for those who have made improvements, the results are positive, with 96% expressing satisfaction and 81% recommending the work to others. Out of those that retrofitted, over a fifth of the respondents expressed that they would have appreciated guidance and assistance prior to commencing their retrofit process. That’s where we come in...we usually see clients before, during or after the project has started. We can help at every stage or all of them depending on your requirements. We like action. If you do too – drop us a message! #retrofit #retrofitjourney #retrofityourhome #retrofittips #energyefficiency #energyefficienthomes #projectplanning *data from a survey commissioned by Lloyds Banking Group.