It seems that every government is giving incentives to help promote awareness in an effort to stop global warming. In the US and UK, “green mortgages” would be available from the government to support homeowners in upgrading their homes to eco-friendly structures by using solar panels, wind turbines, double glazing and other energy-saving methods, including home automation.
The green mortgages would encourage the use of eco-friendly building materials and the integration of energy-saving and generation into the home. Most energy-efficient mortgage (EEM) programs let you qualify for bigger loans than you would otherwise by folding in the additional cost of making improvements for energy efficiency or of purchasing an already energy-efficient home. Another version of the green mortgage provides discounts on loan fees or interest rates for homes that are certified as energy-efficient. [BankRate]
What will we see next, as a result of these mortgages? It may not be too farfetched to imagine turbines on top of capable buildings, solar panels covering old roofs, and double glazing replacing wooden or sash windows. There could be even more technology that will surface in the years to come, but one thing is certain – green is the “in thing.”
Even the government is becoming more relaxed on planning limitations for listed properties and conservation areas, making it easier for them to adopt various energy-efficient methods, such as double glazing windows and using wind turbines.
It is expected that higher council tax rates will be imposed on homeowners who would not participate in the plan, while the zero-carbon homes of the active participants in the greening effort would enjoy a stamp duty exemption.
The target is to reduce the 150 metric tons of carbon emitted by Britain’s 26 million homes to less than 30 metric tons by the year 2050—quite an ambitious goal.
According to David Adams, chairman of the UK Green Buildings Council, if Britain aims to reach an 80% reduction in carbon emissions by the year 2050, it is vital to cut carbon emissions to near-zero, starting right now. Adams is the head of a government-supported group that will offer the green mortgage program, soon to be published. Energy and Climate Secretary Ed Miliband supports the program and has the far grander aim of having some 7 million homes upgraded by 2020, with upgrading all the remaining ones by 2030.
The US program, named the Energy Star Mortgage, is designed to save homeowners a minimum of 20% on energy costs. In February 2009, the Energy Programs Consortium, a nonprofit policy research group in Washington, D.C., launched its new Energy Star Mortgage in Maine as a joint effort with the state housing agency there. As for participating banks, they must either offer a mortgage discount or pay part of the closing costs to have the right to offer a mortgage under branded label of Energy Star Mortgages.
Whether these programs and subsidies will help reduce our impact on the Earth, we will have to wait and see. But one thing is clear – if you’re looking to upgrade your home, it’s never been more affordable to make your home energy efficient.
Related posts:
[...] look forward to is their ability to qualify for Energy Star Mortgage. The U.S. program, named the Energy Star Mortgage, is designed to save homeowners a minimum of 20% on energy costs. In February 2009, the Energy [...]
[...] Anthony Kuo presents Green mortages save money, the environment | Smart Home Automation Guide [...]
[...] Kuo presents Green mortages save money, the environment posted at Smart Home Automation Guide. Anthony says, "It seems that every government is giving [...]