ENERGY TRANSPARENCY POLICY PROPOSAL

Problem

When Coloradans buy a home they have no idea how much it will cost to heat, cool, and power. This is an essential component to estimating monthly costs and affordability.

Solution

Providing information in the form of Energy Dollars per Year (EDY) presents a metric that is simple to understand and in a common form seen across industries: mpg, APY, kWh, GPM.

Policy Proposal

In the interest of enhancing transparency and aiding prospective homeowners in making informed decisions, we propose to make “Energy Dollars per Year” (EDY) publicly available in residential property listings. This ensures an understanding of the comprehensive annual expenses associated with powering, heating, and cooling residential properties. Coloradans currently have access to publicly available data, such as monthly mortgage payments, property taxes, building fees, and HOA fees. By providing an EDY, we aim to facilitate the full evaluation of financial viability in real estate transactions for homeowners across all financial levels. The EDY amount is the sum of the previous twelve months’ utility bills for gas, electricity, and heating oil. This is not a score-based or rating system but is similar to miles per gallon (mpg) for a vehicle and instantly comprehensible. This amount would be included in the property listing to ensure full transparency to the public.