Energy Labelled Home Sales to Spur Green Economy in Capital Region

Aug 08, 2011

Victoria, BC – The Capital Regional District, City of Victoria, Township of Esquimalt and Town of View Royal are partnering with BC Hydro, the Victoria Real Estate Board (VREB) and the Province to launch a Time of Sale Home Energy Labelling pilot project. The first 100 homes to register in the pilot will receive a free home energy assessment; the project will run region wide with specific spots reserved for homes in the three sponsoring municipalities.

“This pilot will help sellers communicate the energy efficiency potential of their home and help buyers find the right home,” said CRD Board Chair Geoff Young. “A BC Real Estate Association survey found that 65% of British Columbians would be willing to pay more for an energy efficient home.”

The Time of Sale Home Energy Labelling pilot project will provide participating homes with a free, third party home energy assessment with an accompanying EnerGuide for Houses Rating—similar to an appliance’s EnergyStar rating. The rating will take into account a home’s windows, doors, insulation, heating equipment and air leakage and will be posted on the MLS® at the time of listing. Both seller and homebuyers can use this information to direct their energy upgrades andeither individual can accessLiveSmart and ecoENERGY incentives for the home.

 “With BC energy prices projected to increase, understanding the energy performance of a potential home is critical to a well-informed purchasing decision,” said Esquimalt Mayor Barbara Desjardins.

 The home energy assessment accompanying the EnerGuide label will provide a list of top recommendations for improvements, along with financial incentives available under provincial and federal energy retrofit programs. Government incentives will be available to whoever makes the upgrade, whether seller or buyer.

“This is a timely pilot and will complement existing LiveSmart BC incentives and the Federal eco-energy retrofit program,” said View Royal Mayor Graham Hill. “Most BC municipalities have established greenhouse gas reduction targets. Buildings are one of the major contributors to community GHG emissions and to reduce our impact, we need to improve efficiency.”

“Demand for housing energy retrofits also provides an improved market for local, green jobs,” said Victoria Mayor Dean Fortin. “In many countries, energy labelling is mandatory and has become common practice in home sale disclosures. By placing a value on energy performance, it’s expected that energy labelling will drive the local, green economy while protecting both the consumer and the environment.”

"The time-of-sale energy-labeling pilot builds on the incentives available through the LiveSmart BC Energy Incentive program and is another way the province is working to support BC families saving money and helping the environment,” said Oak Bay – Gordon Head MLA Ida Chong.

The Time of Sale Pilot will run through to the end of 2011. The first 100 sellers to participate will receive a free home energy assessment, funded one half by BC Hydro and one half by VREB, the CRD or a sponsoring municipality. For more information on the pilot program, visit www.livesmartbc.ca/energuide or contact a local Realtor.

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For further information please contact:
Andy Orr, Senior Manager
CRD Corporate Communications
250.360.3229