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2009 INTERNATIONAL ENERGY CONSERVATION CODE
FOR NEW HOMES IN
MINNESOTA
MonthMortgageIncreaseMonthlyEnergy Savings
CuuvCs/Bf
1
$374.60$26.25$348.35
2
$8.09$26.25$330.19
3
$8.09$26.25$312.03
4
$8.09$26.25$293.87
5
$8.09$26.25$275.71
6
$8.09$26.25$257.55
7
$8.09$26.25$239.39
8
$8.09$26.25$221.23
9
$8.09$26.25$203.07
10
$8.09$26.25$184.91
11
$8.09$26.25$166.75
12
$8.09$26.25$148.59
19
$8.09$26.25$21.47
20
$8.09$26.25$3.31
21 $8.09 $26.25 $14.85
22
$8.09$26.25 $33.01
23
$8.09$26.25 $51.17
24
$8.09$26.25 $69.33
One o the major barriers to energy code adoption across the country is the concern that newcodes will add to the purchase price and potential buyers will not be able to aord the homesthey want. In Minnesota, upgrading homes to the 2009 International Energy ConservationCode will actually reduce out-o-pocket expenses or homeowners – paying o their initialinvestment in a matter o months.For the average new home, BCAP estimates the costs o the new code will add a total o $1,873 in construction costs—an increase o only 0.7%. When this amount is rolled into theaverage mortgage, real costs to homebuyers will mean a down payment increase o $374.60,and $8.09 extra on monthly mortgage bills.These added mortgage costs will be oset, however, by monthly energy savings o $26.25,helping homebuyers pay o their initial investment in only twenty-one months. Ater breakingeven in month twenty-one, the home will return buyers a prot o $18 per month—or a totalreturn o $192 every year. This return on investment is graphed below and presented as abalance sheet at right.
Energy Code Payback for Minnesota Single Family Homes
This model assumes an average sale price of $267,451 for a
2,400 square foot home. The mortgage is conservavely set at30 years, with 20% down and the current average naonwideinterest rate of 5.05%. With a lower down payment—such as10% down—consumers will break even on their investment
even sooner.
Break Even
$1
8
proft
every month
Cumulative Beneft
Monthly Benet:
+$18
Prot ater Year 1:
-$149
Monthly MortgageIncrease:
$8
Monthly EnergySavings:
$26
Down PaymentIncrease:
$375
-$5001 72 8 93 4 10 11 125 6 $50-$100-$150-$200-$250-$300-$350-$400
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