You are ready to renovate the property, and saving is a key topic.
We have two great reasons why renewable energy will help you save
- Operating expenses are lowered when using green technology
- Rental rates on properties that are fitted with green technologies such as Energy Star rated renewable energy technology can increase rental prices of investment properties.
These studies have shown how operating expenses are lowered when using green technology in a building.
- Operating expense were 30% lower for enerGY stAr compared non-Energy Star buildings. Miller, N., Spivey, J. Florance, A. “Does Green Pay off?” Journal of Real Estate Portfolio Management, Vol.14, no.4, Oct-Dec. 2008.
- Energy Star buildings had 9.8% lower utility expenditures than non-Energy Star buildings. Pivo, G., and Fischer, J. “Investment returns from responsible property investments: energy efficient, transit-oriented, and urban regeneration office Properties in the us from 1998-2007.” Indiana University, October 2008.
Moreover, these studies carried out over the last decade prove that rental rates on properties fitted with green technologies, suh as Energy Star rated renewable energy technolgy can increase the rental price of properties.
- Energy Star and LEED certified office space had a rental premium of 6%. Fuerst, F. and McAllister, P. “New evidence on the Green Building rent and Price Premium.” University of Reading, 2009.
- Energy Star properties had a rental premium of 4.8%, or $1.26 per square foot. Pivo, G., and Fischer, J. “Investment returns from responsible property investments: energy efficient, transit-oriented, and urban regeneration office Properties in the us from 1998-2007.” Indiana University, October 2008.
- Rental premium of 7-9% for Energy Star buildings and a rental premium of 7-9% LEED buildings 15-17%. Wiley, J., Benefield, J., and Johnson, K. “Green design and the market for Commercial office space.” Journal of Real Estate Finance and economics
The Energy Savings Trust of the UK have also quantified it in a way to make it easy to identify the exact savings available.
Not only can savings be made via the technology but there are also related incentives available from the government to help you to save more!
If you want to see how the Renewable Heat Incentive from the UK government can help subsidise your investment, just check out our information here. https://www.innasol.com/rhi-financing/
This is a Government-backed scheme designed to financially reward those who use renewable energy and make it financially worth while to produce renewable heat. Thousands of happy Innasol customers have already started to reduce their energy bills, become more self-sufficient and earn extra income whilst reducing carbon footprints. You are eligible for the incentive if you are a domestic user who operates biomass boilers, heat pods and heat pumps. Once our efficient and latest renewable heating systems are installed, the domestic RHI scheme provides you with guaranteed, index linked payments for seven years with tariff levels even higher than for commercial RHI. Not only will you add value to your home, manage risks associated with longer winters, and reduce high operating costs of heating homes and water, but also get a little financial help along the way.
A bit more info about the RHI https://www.ofgem.gov.uk/environmental-programmes/domestic-renewable-heat-incentive
Also here are some good case studies which show you HOW the whole concept works!
If you want to find out more please contact one of our dedicated team members who will be happy to help, or come and see us at the Homebuilding and Renovating Show! We will be exhibiting for three days from 6th to 8th November at Stand B470. Our experienced team will be on hand to answer any questions you may have and even show you the products we have to offer up close and personal. To find out more about this exciting opportunity click here.
We look forward to seeing you soon!