Energy Efficiency Funding Can Create 1 Million Jobs,
Says Report Sponsored by Appraisal Institute
CHICAGO (Oct. 25, 2011) – A report released today, sponsored in part by the Appraisal Institute, outlines ways to finance $150 billion per year in energy efficiency projects that yield double-digit financial returns. The Appraisal Institute is the nation’s largest professional association of real estate appraisers.
“Energy Efficiency Financing: Models and Strategies” by Capital-E and partner organizations says that within 10 years, investment at this level would save U.S. businesses and households $200 billion annually and would create more than 1 million new full-time jobs. This level of funding represents a more than five-fold increase from current levels of about $20 billion per year and would cost-effectively make the American economy more competitive, enhance national security and help slow the impacts of climate change, according to the findings.
“This important report reflects our commitment to providing insight into market trends and to supporting the appraisal industry’s critical role in valuing the impact of all property features, including ‘green’ and energy efficient buildings,” said Appraisal Institute President Joseph C. Magdziarz, MAI, SRA. “As the real estate valuation industry’s leader, the Appraisal Institute is in the forefront of preparing appraisers to analyze energy efficient buildings.”
With the end of the 2011 fiscal year, some $40 billion in public stimulus funding for energy efficiency and clean energy is rapidly winding down, leaving a huge financing gap that only the private sector can fill, according to the report. “Energy Efficiency Financing: Models and Strategies” details how the private sector can rapidly and cost-effectively expand private investment in energy efficiency.
The Appraisal Institute was among the major real estate and industry organizations that helped develop the report by Capital-E, which also partnered with five of the 10 largest U.S. banks. Partners involved in the development of the report included Citigroup, JP Morgan, the National Association of State Energy Officials, the Energy Foundation and the American Council for an Energy Efficient Economy.
The Appraisal Institute is the leader in green valuation, having developed the Residential Green and Energy Efficient Addendum and the Valuation of Sustainable Buildings Professional Development Program. Since June 2008, the Appraisal Institute has offered more than 100 individual classroom courses on green and energy efficient valuation, and more than 2,300 attendees have participated.
Subscribe to the Appraisal Institute’s RSS feed to stay connected with the latest news from the Appraisal Institute, and follow us on Facebook, Twitter and LinkedIn.
The Appraisal Institute is a global membership association of professional real estate appraisers, with more than 24,000 members in about 60 counties throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Members of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA and SRA designations. Learn more at www.appraisalinstitute.org.
# # #