Featured Research

from universities, journals, and other organizations

Buying Homes Of Tomorrow Now Saves Money, Energy

Date:
June 22, 2005
Source:
University of Toronto
Summary:
While energy prices rise, buyers of new homes continually ignore a simple way to cut energy costs close to 50 per cent -- requesting their home be built to be energy efficient with technology already available, says University of Toronto research.

While energy prices rise, buyers of new homes continually ignore a simple way to cut energy costs close to 50 per cent -- requesting their home be built to be energy efficient with technology already available, says University of Toronto research.

"The reality is today that energy conservation puts dollars back into homeowners pockets," says Professor Kim Pressnail of the Department of Civil Engineering. "Homebuyers often go for the least capital cost initially without considering future operating expenses."

In a paper presented this month at the 33rd Annual General Conference of the Canadian Society of Civil Engineering, Pressnail and colleagues compared the cost of building a model home to the minimum standards of the Ontario Building Code and associated energy costs to the energy saving of building an R2000 home, an energy efficient standard developed by Natural Resources Canada. They found that the cost of upgrading a $160,000 home to the R2000 standard was $5,560--an increase of just 3.5 per cent. The upgrade translated into energy savings of $818 a year. If a homeowner paid for R2000 upgrades by increasing mortgage payments, she could generate $423 a year in annual cash flow on energy savings.

"For the standard home upgraded to R2000, the internal rate of return was calculated to be over 14 per cent--greater than that achieved by other low risk options, such as bonds," says Pressnail, who adds that the returns are even greater if fuel escalation costs are considered. "Since houses built today have a 100-year lifespan and since energy prices will surely rise, the economic and environmental case to build better houses now is even more compelling."

According to Statistics Canada, there were 233,431 homes built across Canada in 2004, translating into more than 200,000 missed opportunities to build more sustainable, energy-efficient homes. By asking for better-built, more energy-efficient homes now, consumers can live in a more comfortable and durable home while saving money and the environment. The research was supported in part by the Natural Sciences and Engineering Research Council and the Neil B. Hutcheon bequest.



Story Source:

The above story is based on materials provided by University of Toronto. Note: Materials may be edited for content and length.


Cite This Page:

University of Toronto. "Buying Homes Of Tomorrow Now Saves Money, Energy." ScienceDaily. ScienceDaily, 22 June 2005. <www.sciencedaily.com/releases/2005/06/050621094734.htm>.
University of Toronto. (2005, June 22). Buying Homes Of Tomorrow Now Saves Money, Energy. ScienceDaily. Retrieved August 2, 2014 from www.sciencedaily.com/releases/2005/06/050621094734.htm
University of Toronto. "Buying Homes Of Tomorrow Now Saves Money, Energy." ScienceDaily. www.sciencedaily.com/releases/2005/06/050621094734.htm (accessed August 2, 2014).

Share This




More Matter & Energy News

Saturday, August 2, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Tesla, Panasonic Ink Deal To Make Huge Battery 'Gigafactory'

Tesla, Panasonic Ink Deal To Make Huge Battery 'Gigafactory'

Newsy (July 31, 2014) The deal will help build a massive battery factory that Tesla says will produce 500,000 lithium batteries by 2020. Video provided by Newsy
Powered by NewsLook.com
Britain Testing Driverless Cars on Roadways

Britain Testing Driverless Cars on Roadways

AP (July 30, 2014) British officials said on Wednesday that driverless cars will be tested on roads in as many as three cities in a trial program set to begin in January. Officials said the tests will last up to three years. (July 30) Video provided by AP
Powered by NewsLook.com
7 Ways to Use Toothpaste: Howdini Hacks

7 Ways to Use Toothpaste: Howdini Hacks

Howdini (July 30, 2014) Fresh breath and clean teeth are great, but have you ever thought, "my toothpaste could be doing more". Well, it can! Lots of things! Howdini has 7 new uses for this household staple. Video provided by Howdini
Powered by NewsLook.com
Smoked: 2015 Ducati Diavel Vs 2014 Chevy Corvette Stingray Drag Race

Smoked: 2015 Ducati Diavel Vs 2014 Chevy Corvette Stingray Drag Race

Cycle World (July 30, 2014) The Bonnier Motorcycle Group presents Smoked; a three part video series. In this episode the 2015 Ducati Diavel takes on the 2014 Chevy Corvette Stingray Video provided by Cycle World
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins