Will Rising Price of Oil Help Sell Green Homes?

price of oil
price of oil

What does the revolt in Libya have to do with green home design? Well, now that the price of oil has spiked to over $100 a barrel, energy-efficient green homes are looking better and better.

One reason is that the price of heating oil, the main source of heat for more than 8 million U.S. homes, moves in tandem with petroleum. Today, heating oil costs 25 percent more than it did just two months ago due to fears that popular uprisings across the Middle East could disrupt oil supplies.

Home builders are making the most of the opportunity in an otherwise dismal climate for home sales. KB Homes has taken to labeling its green homes with the type of energy efficiency stickers you're more used to seeing at a car dealership.

The Las Vegas Sun reports Meritage Homes unveiled a new development in Las Vegas where homes come with a solar energy system included in the base price, which begins at $150,000. And Pulte Homes' green houses feature real-time energy usage meters, bamboo flooring and dual paned windows.

There's just one problem: Green home buyers may save money on utility bills, but they're looking at a higher purchase price.