They can be seen on any street and in any neighborhood. The un-mowed lawns, boarded up windows and vacant driveways of foreclosed and bank owned property. There are many ideas on how to turn these neglected remnants of corporate greed and misguided trust back into marketable homes.
We should strive to make these homes into more than just a marketable home. We need to start the process of transforming the way we power our homes. The renewable energy technology is available to make these foreclosed homes models for our communities.
There should be incentives given to banks who sell these properties at a discount to contractors or prospective home buyers. The new owners would contractually agree to remodel their home to a set of standards such as the HERS rating system. The work should include installing a renewable energy system, (i.e. Solar, geothermal or wind). The outer shell must be completely sealed, also known as closing the envelope of a home. The windows, doors and all the appliances should have high energy star ratings.
The banks would receive government incentives to sell at a discount. They could possibly receive future tax credits as an example. The new home owner would receive the incentives already in place for installing energy efficient products. This includes a very nice size return for installing renewable energy. There are many incentives available from the utility companies as well as from Federal, State and local governments
We could also go a step further and require all work to comply with the LEEDS for homes guidelines. This requires the contractor, when working on the home, to install products that are the least toxic to our planet. They pollute less and we are able to them recycle later. This is commonly known as green building.
There would be many benefits to implementing this program. The resale value of the surrounding community would increase. It would add many needed jobs for the contractors and sub contractors they hire. The efficiency of the homes along with the renewable energy systems would reduce our dependency on foreign oil. This program would be better than just buying bad loans. There is a return for taxpayers footing the bill.
Our government can help turn these eyesore properties into community showcases of energy saving technology. This will help create a new wave of home remolding using renewable energy in our country. There are certainly many obstacles that would need to be ironed out for this program to work. President Obama has showed an interest in building green in his recent programs. This would be one more step in the way to a new green era in our history. All these things will certainly help create a healthier planet.
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