OCEANSIDE, CALIFORNIA--(Marketwired - Aug. 7, 2013) - The Residential Energy Services Network (RESNET) announced today that one of the nation's largest private warranty companies has begun offering home energy guarantees based the Home Energy Rating System (HERS) Index Score determined by independent certified RESNET home energy raters. The HERS Index Score functions much like an MPG for homes, allowing buyers to compare the relative energy efficiency of one home to any other home with a HERS score.
The Residential Energy Guarantee™, offered by Bonded Builders Warranty Group, is an exclusive new program for energy-efficient new homes that will compensate homeowners for natural gas and electric costs that exceed an estimated level of consumption. The estimate and whole-house energy bill guarantee is determined by a comprehensive HERS rating carried out by a certified RESNET HERS Rater.
RESNET's Executive Director, Steve Baden, observed that, "The fact that one of the nation's largest private warranty corporations in the U.S. is willing to back the energy performance of a home through a HERS with their money adds incredible confidence to builders to use and market their homes' HERS Index Score. This is another sign of the growing credibility of RESNET in the HERS Index Score in the private sector."
In response to consumer demand, an increasing number of builders across the United States are entering into Memorandums of Understanding with RESNET to have their homes energy rated. The resulting HERS Index Score lets homebuyers see at a glance what a home's energy performance is, and also functions as a valuable marketing tool for builders who can sell their homes based on projected energy savings. The Bonded Builders Warranty Group Residential Energy Guarantee allows builders to offer purchasers guarantees on energy performance, thereby increasing consumer confidence in both the builder and the HERS Index Score. The guarantee is offered for terms of 2, 3 or 5 years.
Between 2008 and 2012, buyers purchasing new homes indicated that:
- Over 90% were interested in the idea of an energy guarantee.
- Over 90% would recommend a builder who provided an energy guarantee.
- 75% believed an energy guarantee would increase confidence in energy savings promoted by the builder.
- Over 70% said an energy guarantee would increase their interest in purchasing a home.
- 90% indicated an energy guarantee would motivate them to seek more information from the builder by calling or going online.
- Over 70% of purchasers wished they had an energy guarantee.
- 85% were concerned about energy costs and their expected monthly energy bill.
For more information on the program go to Bonded Builders Warranty Group Residential Energy Guarantee Program.
The Residential Energy Services Network (RESNET) is the independent, national nonprofit organization that homeowners trust to improve home energy efficiency and realize substantial savings on their utility bills. RESNET's industry-leading standards are recognized by the U.S. Department of Energy and the U.S. Environmental Protection Agency, among others.