- The average ‘green’ home now sells at a premium of over 100% relative to average home prices across a broad selection of U.S. cities
- Despite annual energy cost savings of $1,587, homeowners often opt to forgo installing residential solar panel systems due to their elevated upfront costs
- The recently passed Inflation Reduction Act will provide homeowners with a 30% tax credit to assist with the upfront cost of installing renewable energy home systems
- The lower upfront costs, coupled with lower utility bills and a ‘green’ premium applied to residential home sale prices could lead to added demand for the likes of GeoSolar Technologies
In St. Petersburg, Florida, the average “green” home sold for $734,502 over the past year, a premium of 159% relative to the average home in the city. However, this “green” premium was hardly confined to sunny Florida alone. Environmentally friendly homes across broad swathes of the United States were habitually found to sell for over twice as much as the average property in their home cities, in locations ranging from Virginia Beach and New Orleans all the way through to Chandler, Arizona (https://ibn.fm/2b7a7). In fact, a study carried out by Consumer Affairs found that 70% of American homeowners reported an increase in home value following the installation of solar panels, with three out of four homeowners stating that they would not buy their next home if the property did not boast solar or some type of eco-friendly feature. Nevertheless, current property owners across the United States, more often than not, opt to forgo installing solar panels and other environmentally friendly appliances within their properties, with 22% citing elevated costs as the key rationale underpinning their decision.
GeoSolar Technologies (“GST”), a Colorado-based climate technology company, has sought to combat this trend through the introduction of its proprietary SmartGreen(R) Home system – an environmentally friendly, renewable energy focused technology designed to harness energy from the earth and sun to…
NOTE TO INVESTORS: The latest news and updates relating to GeoSolar Technologies are available in the company’s newsroom at https://ibn.fm/GST
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