Cashing in on the Green Machine: are Developers Missing Out?

Sally Sims and Claire Roberts

ERES from European Real Estate Society (ERES)

Abstract: A visit to the local DIY store might encourage you to bring home more than just a new drill or a couple of rolls of wallpaper since the latest ëmust-haveí item now being marketing is your very own wind turbine and solar panel. For the bargain price of £3,000, you can have two solar panels (excluding installation) and a wind turbine fitted by an approved engineer. The promise to reduce electricity bills by up to 30 per cent and provide 50 per cent of your hot water needs whilst doing your bit to save the planet, is certainly very appealing, particularly at a time when energy costs are rising. If consumer demand is such that DIY stores are now stocking these products at relatively affordable prices, why are developers reluctant to install wind turbines and solar panels as standard features on new homes or commercial buildings? One suggestion is that this type of renewable energy technology (particularly wind turbines) is largely ineffective and only purchased by the middle classes who wish to be seen to be green. However, there is clearly a market for this technology which residential developers in particular are missing out on. This report investigates the apparent reluctance of developer to embrace this technology and contrasts this with public attitudes towards producing their own green electricity by installing solar panels and wind turbines on their property.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2007-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2007_213

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