9News – Solar Panels Spur Success for Homebuilder During Recession
DENVER – While some homebuilders have struggled to stay afloat during the economic downturn, New Town Builders has managed to shine, thanks to its standard solar panels and top-ranking energy efficiency.
While some other companies have seen big declines in home sales, New Town Builders has seen a more than 100 percent increase since last year.
The company’s new homes feature a 3-kilowatt solar panel system, thicker walls and insulation. Executives at New Town Builders say there are tax credits, subsidies and immediate savings on utility bills, making their homes attractive for buyers.
“We recently had a homeowner who was featured in the newspaper, whose total electric bill for the whole year was $40. The payback is immediate,” CEO Gene Myers said. “We think more and more people really look at the cost of homeownership including the cost of operating it with utilities, and so the lower that is, the better.”
New Town Builders has been offering solar standard panels for two years, and company officials are hoping other companies catch on to help reduce the carbon footprint and spur economic recovery.
Recently, KB Home announced they would provide solar panels as a standard in test markets in Southern California. Myers believes energy efficient features are one way the market in Denver and around the country will bounce back, and the way his company will continue to thrive.
“We’re hoping to continue to prosper as a result of really keying into these new trends in the market and we think green is a big part of that,” Myers said. “I see the Denver market firming up quite nicely.”
The most affordable New Town Builders single-family home that comes standard with solar panels and energy-efficient features costs $354,000. Multi-family homes with solar power start at $170,000.
