SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

CHANNEL BY TOPICS


QUICK LINKS




Home Economics 2011: Fewer Remodeling Jobs, 52% More Solar and Energy Efficiency Projects

Renewable energy

Welcome to
Renewable energy

Renewable energy - Featured Article

August 02, 2011

Home Economics 2011: Fewer Remodeling Jobs, 52% More Solar and Energy Efficiency Projects

By Cheryl Kaften
TMCnet Contributor

Share

 Requests for residential solar installations are up 52 percent nationwide, according to results of an online survey of 500 service professionals and 650 consumers released on August 2 by Golden, Colorado-based Service Magic.

The main reasons for solar-related expenditures, according to respondents, were cost-savings on home energy bills (29 percent) and tax benefits (21 percent). Thirty one percent expect to see a return on their solar investment within one to three years; followed by 29 percent, who expect a return within four to six years.


ServiceMagic —a website that connects homeowners with screened and approved local service professionals—reported that home improvement data and results of a poll conducted in July show that service requests for energy-efficient projects overall have substantially increased year-over-year.  In addition to demand for solar arrays, concerned consumers are spending more on heating (+34 percent), air conditioning (+14 percent), and window coverings (+17 percent).

The majority of homeowners who responded stated that energy efficiency is an important consideration in their home improvement projects and cited the top motivating factors as:

  • Saving on energy bills (35 percent),
  • Protecting the environment (25 percent) , and
  • Improving home comfort (23 percent).

 “Energy efficiency is top of mind as energy costs rise and new financing and incentive programs become available in certain areas of the country,” said ServiceMagic CEO Chris Terrill. “Homeowners are not only investing in larger projects such as solar installation, but finding less-costly ways to manage energy efficiency, such as upgrading window coverings.”

Nationally, requests for additions and remodeling projects were down 22 percent. This is the fourth consecutive quarter that home remodeling activity has declined. Quality of life continues to be a motivation for homeowners —as 82 percent said they are investing in home improvement projects to increase overall living quality versus home projects that increase the home’s value or curb appeal.

  “We saw an increase in early 2010 for remodeling activity, particularly in kitchen and bath,” Terrill continued.  “The softness over the past year may be attributed to the pent-up demand from homeowners, who held back during the worst years of the economic downturn.” 


Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.

Edited by Rich Steeves

View all Renewable energy Articles >>>

Renewable energy Related Articles









Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: [email protected].
Comments about this site: [email protected].

STAY CURRENT YOUR WAY

© 2024 Technology Marketing Corporation. All rights reserved | Privacy Policy