Listen Now: Going Solar
California is making history and homeowners are paying the price.
The California Energy Commission has approved a first of its kind set of rules that would require new homes and low-rise apartment buildings to include solar panels. The requirements would go into effect in 2020 and could add more than $10,000 to construction cost of new homes. Some builders say the number could actually be twice that.
And this means a higher price tag when buying a home and additional costs if you build your own. But despite that the commission and most builders agree that the costs should be made up in energy savings over the life of the solar panel system.
Critics say California is already in the middle of a housing crisis with four of the state’s markets among the country’s top five most expensive—and people are leaving the state in droves. They say the last thing potential buyers want to hear is new regulations that will drive up cost.
It’s hard to find people to buy into an idea if the buyers can’t afford it.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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