The Vermont Legislature will be taking testimony on Building Energy Disclosure Legislation (S.143 and H.497) this week in Montpelier, making it an opportune time to
Energy Disclosure Bill Context
Building Energy Disclosure addresses the inability of the current marketplace to assign a value to energy efficiency in a home or building. Although energy-efficiency improvements have a tangible value in terms of energy savings and reduced annual costs, they are currently invisible in the marketplace because there is no widely used, consistent metric or method for quantifying and disclosing this information (as there is with the MPG sticker on a car). The success and fairness of such disclosure will depend in part on universal use of the same simple scoring method for each property.
The Senate Natural Resources and Energy Committee Hearing
Wednesday, Febuary 1, 2012
State House, Room 8 in the State House.
The House Natural Resources and Energy Committee Hearing
Friday, Febuary 3, 2012
State House, Room 41 (top floor, turn right at the top of the stairs)
Vermont State House
115 State Street, Montpelier, VT
Energy Disclosure Legislation Benefits:
Building Energy Disclosure will provide the following direct benefits:
• Sellers can see the value of their investment in energy efficiency improvements captured in the resale value of their buildings, encouraging investment in such improvements; and
• Buyers may be able to consider building energy performance and related operational costs as part of their purchase decision, potentially rolling the cost of any needed improvements into long-term mortgage financing at the time of purchase.
Building Energy Disclosure will also provide the following indirect benefits:
• Lending institutions will have a reliable method for considering energy costs as part of their underwriting criteria;
• Appraisers will have a tool for incorporating energy performance into building valuation; and
• Contractors will see an increase in demand for energy efficiency improvements due to their value in the marketplace, supporting job creation and economic development.
Building Energy Disclosure will also provide the following statewide benefits:
• It will help Vermont meet our statutory goal to improve the energy efficiency of 25% of our housing stock (or 80,000 homes) by 2020, saving Vermonters money and reducing greenhouse gases.