Does considering the impact of green improvements make sense?
IoES Professor Matthew Kahn, who holds joint appointments in economics and public policy, was quoted in a New Jersey Independent Press article about measuring the impact of "green" home improvements.
The U.S. Green Business Council recently reported that single-family homes are responsible for a little over 20% of the country’s greenhouse gas emissions. By living in a green home, people can help reduce the causes of climate change. According to a recent survey constructed by McGraw-Hill, “70 percent of buyers are either more or much more inclined to purchase a green home over a conventional home in down housing market.
Many who think about going green in a home envision solar panels, but those aren’t the best investment for everyone. With solar panels, a home must be in an area with sufficient sunshine and it must be in a location that is eco-friendly minded.
“In preliminary work using data on home sales in Sacramento County [California] I have found that with all else being equal, that homes with solar panels sell for a 6% higher price,” said Matthew E. Kahn, Professor at UCLA's Institute of the Environment and Sustainablity.
To read the full article click here.
Published: Thursday, January 12, 2012