- Mark McDowell
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Architecture 2030 Plan Seeks to Create Jobs, Reduce Greenhouse Gases
Architecture 2030 is a non-profit, non-partisan, independent organization established in response to the global-warming crisis. Its core mission is to transform the global building sector from a major contributor of greenhouse gas emissions to part of the solution to the global-warming crisis. The organization seeks to achieve a dramatic reduction in greenhouse gas (GHG) emissions by changing the way buildings and developments are planned, designed and constructed.
Its One-Year, 4.5-Million-Jobs Investment Plan initiative seeks to create new employment and $296 billion in direct, non-federal investment and spending and open a $47.6 billion renovation market that could total $1 trillion by 2030.
The Architecture 2030 Plan involves energy efficiency incentive grants to “buy down the interest rate” on mortgages used to purchase new energy-efficient homes or remodel existing ones It proposes a one percent full interest rate buy-down for a new home that uses 50 percent less energy than present standards, or a home energy modification that would reduce consumption of an existing residence to 30 percent. For example, if a mortgage interest rate quote is 4.75 percent, the plan would offer an interest buy-down which would reduce the interest rate a full percentage point, to 3.75 percent.
During the year the plan is in effect, consumers would save $11.7 billion in energy costs and mortgage payments, reducing the risk of foreclosure. Even if only 2.3 percent of the nation’s housing stock participates, the plan will reduce CO2 emissions by 11.5 MMT CO2 and on-site energy consumption by 104 TBu. Because these benefits are continuous, consumers will save $58.6 billion in energy costs over five years and a minimum of 57.6 MMT CO2e.