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A typical three-bedroom house in Austin, Texas, can sometimes rack up monthly utility bills of $200 or $300 in the summer. But in new homes under construction in a nearby suburb, residents will owe little beyond the basic utility connection fee. The homes, built by Habitat for Humanity, tap into a shared geothermal system in a fully geothermal neighborhood. Heat pumps in each house connect to pipes that loop hundreds of feet underground, making use of the earths steady temperature for heating and cooling. The houses are also built to use as little energy as possible, with features like deep eaves that shade the interior and reduce the need for air-conditioning. Solar shingles on the roofs produce enough power to match each homes expected electricity use. Our goal is to make sure that they have a very, very low energy bill at the end of the day, says Billy Whipple, chief impact officer at Habitat for Humanity’s Austin office. The nonprofit, known for working with volunteers to help lower the cost of construction, sees affordable housing holistically. Its not enough just to have a low monthly mortgage payment; homes also need to be designed to have low maintenance and utility costs, especially as energy bills keep rising. [Rendering: courtesy Austin Habitat for Humanity] A 100% geothermal neighborhood The houses are part of Whisper Valley, a larger development that was designed to rely on geothermal energy. This type of geothermal technology, also known as a ground-source heat pump, isn’t new. Habitat for Humanity has used the tech itself in other developments. But it’s still fairly uncommon because of the cost. Depending on the house, some systems can cost as much as $45,000. Building a connected network for the neighborhood, rather than adding the technology home by home, helps make it more affordable. EcoSmart Solution, a company that builds geothermal infrastructure, drills boreholes on each lot that connect to a larger energy system. “It allows us to implement the geothermal heating and cooling system at a fraction of the cost of doing it on a home-by-home basis,” says Chris Gray, EcoSmart’s CEO. “We bring it as a service. We do all of the drilling, all of the piping, all of the network connecting to each lot before the builders ever take over the lot.” Taurus Investment Holdings, the original developer behind the property, had a vision of making sustainability mainstream. “They were looking at what we can do to really create sustainability, but in an accessible, affordable way that can be approachable for the mass market,” Gray says. [Photo: EcoSmart Solution] The first homes began construction in 2017, and hundreds are now in place. Ultimately, the neighborhood is projected to have around 7,500 homes built by a variety of developers, along with businesses and around 700 acres of green space. Houses currently listed for sale range up to $465,000. Habitat for Humanity’s three-bedroom and four-bedroom homes, available for families earning 60% to 80% of the area median income, are much more affordable, at $230,000 to $245,000. (That’s also well below the average cost within the city of Austin, where the median sales price was around $575,000 last month.) The nonprofit budgeted around $33,000 per house to add the solar and geothermal systems, according to Whipple. Ultra-efficient homes To minimize energy use, Habitat’s homes are well-insulated with an extra-tight building envelope. “When [homeowners] heat and cool, they won’t have to do it as frequently,” Whipple says. The houses also use passive design techniques, like deep overhangs on the windows that provide shade on sweltering Texas days. Inside, the appliances are Energy Star certified. The homes also use LED lighting, smart thermostats, and heat pump water heaters. While it’s impossible to predict how much energy a particular family might useif they like to crank up the AC especially high, for examplethe size of the solar system installed on the roof was calculated to cover all typical usage. That obviously makes a difference for residents on tight budgets. Skyler Korgel, one future resident who will be a first-time homeowner, says that she currently pays between $35 and $70 a month on energy bills in her apartment. “Having that jump to $200 to $300 per month, or unpredictably more during the summers, in a traditional home would be financially unsustainable for me,” Korgel says. “Between the geothermal heating system, rooftop solar panels, smart energy management systems, high-efficiency appliances, and a tight building envelope, I am hopeful that I can reach energy usage of effectively zero, eliminate my energy bill for some months, and even be able to provide power when the electric grid is strained,” she says. A model for future development Habitat for Humanity is building 48 homes in the neighborhood, including 25 that will be constructed in October by volunteers in a five-day sprint. (Skilled construction workers are handling more complex tasks like connecting heat pumps to the geothermal system.) But it’s also considering using the solar-and-networked geothermal approach for future homes. That may include more houses at Whisper Valley. EcoSmart is working with other developers to plan new projects across the country, from single-famiy homes to multifamily buildings. Others are also turning to geothermal. In Brooklyn, for example, a 463-unit apartment building that recently opened uses hundreds of geothermal wells for heating and cooling. An even larger all-geothermal apartment complex is opening in another part of Brooklyn. In some cases, existing neighborhoods are also moving to geothermal. Near Boston, one neighborhood has been testing a shift from gas heat to geothermal heating and cooling over the last two years. In Ann Arbor, Michigan, the city is building a geothermal district system in a neighborhood where 75% of residents are low-incomeboth as part of the city’s work to reach climate goals and to help residents significantly cut energy bills.
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Its not always fun to look your finances in the eye, but it can unlock a rewarding path forward. These five books make tackling personal finance approachable, clear, anddare we say itan enjoyable journey. Rule Breaker Investing: How to Pick the Best Stocks of the Future and Build Lasting Wealth By David Gardner The real secret to building lasting wealth on the stock market is breaking the old investing rules. In Rule Breaker Investing, Motley Fool cofounder David Gardner teaches how to craft a purpose-driven portfolio, manage investments, and even master time management for a smarter, happier, richer investment journey. Listen to our Book Bite summary, read by author David Gardner, in the Next Big Idea App or view on Amazon. The Almanack of Naval Ravikant: A Guide to Wealth and Happiness By Eric Jorgenson Naval Ravikant is a legendary investor, entrepreneur, and founder in Silicon Valley. Beyond his business acumen, he is known for the distilled wisdom that he shares on living a rich and meaningful life. The Almanack of Naval Ravikant compiles his most powerful ideas about achieving wealth and happiness. Listen to our Book Bite summary, read by author Eric Jorgenson, in the Next Big Idea App or view on Amazon. All the Presidents Money: How the Men Who Governed America Governed Their Money By Megan Gorman The money dramas that plague us today are tales as old as time. We share all the same personal financial issues of the present with Americans of the pastincluding presidents. History is filled with relatable stories of money management (and mismanagement). How do your wealth-building skills compare to those of our nations presidents? Listen to our Book Bite summary, read by author Megan Gorman, in the Next Big Idea App or view on Amazon. Robin Hood Math: Take Control of the Algorithms That Run Your Life By Noah Giansiracusa Robin Hood Math is a guide to navigating the algorithmic world we inhabit today. By understanding the numbers games influencing our experiences and opportunities, we can better resist their undue influence in shaping our lives. Math is a tool for empowerment. Listen to our Book Bite summary, read by author Noah Giansiracusa, in the Next Big Idea App or view on Amazon. The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life By Nick Maggiulli The optimal wealth strategy varies based on your financial starting point. Depending on where you sit on the Wealth Ladder, the best approach to getting more money shifts. Its not necessarily about hard work but rather picking the correct place to focus your time and energy based on your current situation. Listen to our Book Bite summary, read by author Nick Maggiulli, in the Next Big Idea App or view on Amazon. This article originallyappeared in Next Big Idea Club magazine and is reprinted with permission.
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Tell me: Do things like this ever happen to you? You have clarity of purpose. You know what you need. You walk into another room to get it. Then, distraction hits, and you forget entirely what prompted you. Or else, you search the house for your car keys or your glasses, or your wallet. A good 10 minutes later, you realize theyve been with you the whole time. You sit down to write an article about an intriguing study having to do with memoryif only you could remember what it was. Yes, these are highly personal anecdotes. But like all the best stories, I hope theyre simply the unique expression of universal truths. Perhaps second only to the fear of death itself, the one thing Ive heard business leaders admit that they fear most is the idea of losing their memory. And thats why Ive latched on with gusto to a recent study out of Harvard University, among other institutions, that suggests a simple, straightforward way to improve cognitive health. A Mediterranean-style diet Writing in the journal Nature Medicine, researchers from Mass General Brigham, the Broad Institute of MIT, and yes, Harvard T.H. Chan School of Public Health, say that making a simple dietary change can influence key metabolic pathways that protect memory and cognitive function. The strategy: Make a conscious change to switch to a Mediterranean-style diet. More on the nose, according to a summary: People following a more Mediterranean-style diet had a lower risk of developing dementia and showed slower cognitive decline. Theyre not the first to tout the benefits of this diet; heck, Ive written about other studies here before. But this team analyzed data from two studies, including a total of 5,705 men and women from two longitudinal studies: the Nurses Health Study, followed by the Health Professionals Follow-Up Study. And, by studying three factors: long-term dietary patterns, participants inherited risk for Alzheimers disease, and the incidence of new cases of dementia, they were able to make some striking conclusions. Help reduce the risk According to the studys first author, Yuxi Liu, PhD, a research fellow in the Department of Medicine at Brigham and Womens Hospital, a founding member of the Mass General Brigham healthcare system, and a postdoctoral fellow at the Harvard Chan School and Broad: These findings suggest that dietary strategies, specifically the Mediterranean diet, could help reduce the risk of cognitive decline and stave off dementia by broadly influencing key metabolic pathways. Before I forget (ironic, right?) we should ensure that weve established what a Mediterranean-style diet actually entails. It includes a few factors: First, the primary fat source is olive oil, as opposed to higher saturated fats that are sometimes seen in Western diets. Second, whole grains. Lots of them. Plus, vegetables and fruitsprobably four servings per day. Third, lean proteins. Think fish, chicken, turkey, and eggs. Fourth: Very limited red meat intake. Finally, lots of fiber from a variety of plant sources. My favorite kind of study Honestly, this makes it fall into the category of frankly quite pleasurable things I might do anyway, even without the study. Which therefore makes it my favorite kind of study. Short version? Do something Id normally do almost without prompting, and get an unexpected benefit? Im on board with that. Barely even need a reminder. Bill Murphy Jr. This article originally appeared on Fast Companys sister publication, Inc. Inc. is the voice of the American entrepreneur. We inspire, inform, and document the most fascinating people in business: the risk-takers, the innovators, and the ultra-driven go-getters that represent the most dynamic force in the American economy.
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