Property owners who have added energy-efficient upgrades to their properties could be cashing in on more than utility-savings. Certain states will soon be factoring in energy efficiency scoring on appraisals.
Environmental advocates and the federal government have been urging homeowners for years to make energy-efficient upgrades to their properties.
However, the cost savings were not formally included as part of the value of the home on an appraisal, until recently.
The Residential Energy Services Network (RESNET) succeeded in working with the Appraisal Institute to develop a standardized Home Energy Rating System that would be included on appraisal forms in certain states.
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