As a new decade is ushered in, Minneapolis continues to fight to decrease its carbon footprint. This year, the city is requiring homeowners to be transparent about their home’s energy efficiency. This new push will require more reporting for homeowners to compile a home energy report for potential buyers. This is just one of the several initiatives that Minneapolis has introduced to downsize the city’s overall negative impact on the environment.
Starting January 15, Minneapolis homeowners need to disclose energy bills when selling their homes. This new ordinance is part of Minneapolis’ Climate Action Plan, which hopes to eliminate emissions by 30 percent before 2025. Experts note that more than 20 percent of the city’s carbon emissions are the result of homes and apartments.
The Truth in Sale of Housing (TISH) Initiative was proposed by city council members last January to help improve Minneapolis homeowner’s energy consumption. In a study conducted by the city, it was found that more than 70 percent of homes in the Minneapolis area were under-insulated. This initiative only applies to homeowners who are selling their homes.
What’s the skinny for homeowners?
Now, when homeowners sell their home, they must spend up to an additional $225 to have their home tested and receive an energy rating. All homes for sale will receive an energy score of the current state of their home. This test focuses mostly on what, if any, material has been injected into the wall cavities and whether that is effective at insulating the home all year round.
Homeowners can eliminate this extra cost if they can produce an invoice that says that insulation was installed in their homes recently.
Homeowners who do not have proof of a recent insulation project will have their homes inspected. The inspector will drill a 2-inch hole into the home’s exterior walls to examine what is inside. After this, the windows, attic, and heating systems will be checked. From this inspection, they will give the home an energy rating.
What if I receive a bad energy rating?
This ordinance does not require homeowners to make improvements to their homes if they receive a less than satisfactory energy rating. But, having a better energy rating will help the home sell. Now, interest-free financing is being offered to homeowners who upgrade their homes to improve their energy rating. Furthermore, utility companies are also offering rebates to homeowners with a better energy rating.
What other initiatives are on the horizon?
As Minneapolis barrels toward a cleaner future, more ordinances have been put into place to help curb emissions through the city. In the future, energy-consumption data which reports how much is collected for utilities will be made available to all renters. These reports will detail the estimated average costs per month for electric and heating bills for that specific property.
This ordinance will roll out in early 2021.
Again, this is another push by the city to encourage homeowners to improve the energy efficiency of their home not only to save them money but make a significant impact on the environment.
What does this mean for homeowners?
This ordinance is a tell-tale sign that energy initiatives prove to be important to homeowners and buyers. This specific ordinance prioritized energy ratings as an essential factor for potential buyers when comparing their housing options. In order to increase your home’s worth and save yourself money in the long run, consider undergoing an energy audit. With similar Retrofitting technology, RetroGreen can get your home outfitted and ready to sell or prepare you and your family for several warm and well-insulated years of joy.