23 Jul '12, 1pm

Green investment pays off for basically everyone except coal-based power companies

Green investment pays off for basically everyone except coal-based power companies

This house makes money for everyone except power companies and paint stores. (Photo by Future Atlas .) Houses certified under various environmental standards are worth 9 percent more than the state average in California, according to new work by two economists. Out of the 1.6-million-home-transaction sample, [the study's authors] identified 4,321 dwellings that sold with Energy Star, LEED or GreenPoint Rated labels. They then ran statistical analyses to determine how much green labeling contributed to the selling price — eliminating all other factors contained in the real estate records, such as locational effects, school districts, crime rates, time period of sale, swimming pools and views. … The 9% average price premium from green-rated homes is roughly in line with studies conducted in Europe, where energy-efficiency labeling on houses is far more commonplace. Homes rat...

Full article: http://grist.org/news/green-investment-pays-off-for-basic...

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