The "Green" Mindset of Homeowners

The market for Truei Green Homes is expected to rise from $2 billion to up to $20 billion over the next five years. Even standard homes are becoming increasingly green, with homeowners using green products for 40% of their remodeling work. Builders need to offer green investment opportunities to the homeowners who want to invest in an environmentally-friendly home.

In light of the slow residential market, green represents a phenomenal growth opportunity. McGraw Hill Construction's SmartMarket Report (released on October 22, 2007) confirms that green homeowners are happy with their homes and are recommending them at rates significantly higher than that of other products.

Most Americans find out about green homes through word-of-mouth, followed by television and the Internet. The report discloses the reasons why homeowners are buying green homes. They are concerned about the health of their families, as well as soaring energy and other home operating costs. No wonder, the market is packed with products claiming to be green. But the BIG question remains unanswered - How should a consumer identify “what is green”? Or, are there any green products that are, not only environmentally friendly, but also reduce heating and cooling costs for an immediate payback?

Simply marketing a product as green is not going to win over homeowners. Educating homeowners about product performance and payback on investment will play a key role in tapping the opportunities presented by the green building market.

Major Challenge

In previous studies by McGraw Hill Construction, residential and commercial builders believed that the additional costs of green were, by far, the most significant challenge to more rapid growth in green building. While for homeowners, costs and availability of green homes is still of importance, their main issue is lack of awareness.

A recent survey of homeowners conducted by Icynene and Ipsos Reid reinforces this, finding that 70% of respondents agreed that when companies call a home building product green, it is usually a marketing tactic. Yet, 37% of homeowners agree that they don't clearly understand the benefits of a product advertised as being green or environmentally friendly.

Education and awareness of green is the most important issue to be addressed. Choosing a product based solely on its renewable content, might ignore its potential for helping us reduce our reliance on resources or for making our homes healthier. Take ‘Insulation' as an example: when selecting a reliable brand for your project, consider more than what the insulation is made from. Look for one that will create an air barrier to air leaks and energy loss. Consider if it will resist settling or shrinking over time. Ask if it will help reduce airborne moisture that can lead to mold growth. Will it keep out allergens? Does the insulation off-gas or contain PBDEs?

Through its Builder Advantage Program, Icynene works hand-in-hand with builders to demonstrate the energy efficient and healthy features of Icynene^® and the payback on the homebuyer's investment.

Icynene also helps consumers to educate themselves by providing informational websites such as www.insulationsmart.com. This Icynene-supported resource site helps consumers in their understanding and ultimate choice of insulation in a market flooded with potentially confusing claims. Icynene^® not only makes a valuable contribution to the health and efficiency of our homes and environment, but also acts responsibly in educating consumers so they can make an informed decision.

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