CPD 126 - Green Value – Energy Efficient, Sustainable, and Resilient Housing
Note: Course materials and quiz will not be ready until June 15th, 2023.
Pre-requisite: None.
This two-lesson course helps real estate professionals and other market participants to recognize and pursue the benefits of energy efficient, sustainable, and resilient real estate. A significant proportion of a building’s "green-ness" derives from its construction and building systems, so the first lesson focuses on "Building Science 101", explaining exactly how the components of a home work together to control the flow of air, heat, and moisture to maintain healthy indoor environments. Lesson 2 focuses on market value considerations for green residential properties, including marketing, finance, development, and appraisal. The course also explores the market context for green housing, investigating the economic and governmental mechanisms that drive the market, plus challenges and barriers for the market’s acceptance and advancement of green housing.
Course Outline
Lesson 1: Green Housing Fundamentals
After completing this lesson, students should be able to:
- Identify and explain the features and benefits of energy-efficient and low-carbon homes.
- Discuss how energy-efficient, low-carbon, and resilient homes help address and mitigate emerging impacts of climate change, such as heat waves, increased rainfall, wildfire smoke, flooding, colder weather, more extreme weather events, and power outages.
- Outline government policies, regulation, and programs, and other market drivers that are pushing demand for energy-efficient and low-carbon homes.
- Describe market experience with energy-efficient housing, including the latest trends identified through industry surveys on consumer wants and demands for energy-efficient and low-carbon homes.
- Illustrate the cost-benefit analysis for energy efficiency in new construction and retrofits.
Lesson 2: Green Housing Market Applications
After completing this lesson, students should be able to:
- Describe information sources regarding sale, appraisal, financing, or development considerations for energy-efficient homes.
- Discuss market value considerations for high-efficiency, sustainable properties under each of the three approaches to value: direct (market) comparison, cost, and income; also highest and best use considerations.
- Explain how energy-efficient products and features can impact home valuation – including heat pumps, energy-efficient windows, insulation, etc.
- Research and analyze market evidence related to green housing, both for designated/labelled properties and for green building features generally, including fewer tangible aspects like aesthetics, comfort, and social values.
- Discuss cost considerations of building green, both for new builds and retrofit projects.
- Discuss financing considerations for green real estate in terms of how property upgrades may be reflected in market value and ultimately in mortgage loans.
- Outline evolving trends and the anticipated near-term and longer-term outlook regarding development, financing, marketability, and value considerations for green residential properties.
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