Greenovation could help save the nation
Numerous studies have shown that investing in energy efficiency in buildings is the most effective way to create American jobs and revitalize the economy. Ed Mazria and the Architecture 2030 team have a stimulus plan before the President-elect’s Transition Team that could be the catalyst for enormous economic activity throughout the U.S. Simultaneously the plan would lower the cost of home ownership and CO2 emissions while increasing energy-efficiency and the creation of new jobs. In just two years the plan would:
- Create at least 8.445 million new jobs
- Create a $1.6 trillion renovation greenovation market
With this plan a homeowner can bring their mortgage rate down 2, 3, or 4 points by improving the energy efficiency of their homes. It’s an offer that’s hard to ignore because, ongoing, you can save hundreds in monthly mortgage payments and reduced energy bills. Achieving net zero-energy, carbon neutral or whatever other name you want to call the benchmark of net zero energy consumption for your home could reduce your mortgage rate to 2%! What incentives could be possible if you achieve enough efficiency to sell power back to the grid? This is an initiative that really has the potential to act as a massive defibrillator for our nation.
CLEAR!
The 2030 Challenge would spur a wave of residential greenovation across the country. Ed Mazria gives an example:
Say you’re a homeowner with a $272,000 mortgage at 5.55%, paying about $1550 a month. You decide you want your mortgage rate to drop to 3%. In order to qualify for the reduction, you have to improve the energy efficiency of your home 75% below code, and it’s going to cost you a pretty penny: about $40,000.
Existing tax credits would take care of about $10,000 of that cost. The rest would get tacked on to your existing mortgage, bringing it up to $302,000. But, at 3%, you’d be paying only about $1280 — saving almost $300 a month on the mortgage alone, plus another $150 in reduced energy costs. The value of your home rises, you have more disposable income, you’ve given work to someone to do the upgrades for you — and s/he’s now paying federal taxes, and you’ve reduced your carbon footprint.
Since we’re in quote-mode, remember Obama’s challenge to Americans:
I’m going to open the doors to government and ask you to be involved in your own democracy again.
Obama leveraged the power of the Internet to get elected. We have the same resource at our disposal. I’m going to join my friend Matt Hoots and ask you to excercise your index finger and your power to vote again. Please surf on over to Change.org and vote for the 2030 plan as one of their top ten ideas for change in America. These ideas will be presented to the Obama Administration when he’s inaugurated.
For more on the 2030 Stimulus Plan, view the pdf.
CLEAR!
