Lead Performer: Lawrence Berkeley National Laboratory (LBNL) – Berkeley, CA
Partner: The Appraisal Foundation (TAF) – Washington, D.C.
FY16 DOE Funding: $25,000
Project Term: Current – September 30, 2016
Funding Type: Direct Lab Funding
Project Webpage: https://sites.google.com/site/evanmillsresearch/home/projects/green-appraisals
The Appraisal Foundation (TAF) and the Building Technologies Office (BTO) will work together to enable practicing real estate appraisers to better characterize the value of energy-efficient and other “green” attributes of buildings. TAF’s primary goal is to ensure that the industry’s definitions of competency and standards of practice properly accommodate green and high-performance buildings. LBNL, on behalf of BTO, will share information from the U.S. Department of Energy’s (DOE’s) relevant programs and policies (including those applying to federal buildings), develop curriculum relevant to appraisers, and provide subject-matter expertise for joint initiatives with TAF.
TAF sets the Congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. Specific activities for this project include identifying case studies, illustrating best practices and reviewing the history of efforts to engage the appraisal industry in considering energy efficiency in their valuations of homes and commercial properties.
This work allows for increased efforts on TAF’s Valuation Advisories, and the initiation of new strategic activities to help DOE identify longer-term priorities. The Valuation Advisories are documents issued by TAF’s Appraisal Practices Board and are intended to offer voluntary guidance on recognized valuation methods and techniques. The joint work between BTO and TAF on the Green Appraisals project seeks to advance the real estate appraiser profession by ensuring that appraisals are independent, consistent, and objective. By incorporating the value of energy-efficient and other “green” measures into building appraisals, tenants and building owners will see a higher return on investment.
DOE Technology Manager: Steve Dunn
Lead Performer: Evan Mills, Lawrence Berkeley National Laboratory (LBNL)
Information Atlas for Appraising Green and High-Performance Buildings
Valuation of Green and High Performance Property: Background and Core Competency. June, 2015. The Appraisal Foundation, Appraisal Practices Board