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President Donald Trump’s proposal for the 2018 budget calls for defunding Energy Star. If successful, it is almost certain the president's property values will benefit.
Energy Star is a voluntary program that allows building owners to address climate change by helping them make their properties more energy efficient. Most experts agree that high Energy Star ratings can increase a property’s value, but on average Trump’s properties tend to receive low ratings, with his 610 Park Avenue condo tower in New York receiving a 1 out of 100, CNN reports.
More than 1,000 U.S. companies have protested cuts to Energy Star, largely because the program costs $50M a year to maintain and saves building owners billions of dollars a year. Energy Star saved property owners $7.6B in 2014 alone.
Should the program be destroyed, the president’s low Energy Star ratings will be of little effect, which could possibly raise his property values. For that reason, American Enterprise Institute political scientist Norman Ornstein said Trump’s desire to get rid of the program is a clear conflict of interest.
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