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> If this were a determining factor, it would be part of real estate listings.

It is part of real estate listings in the Netherlands, and it very much affects the value of the building. https://www.tilburguniversity.edu/nl/actueel/nieuws/meer-nie...

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PEB grade systematically increases the value of a house less than 20% of the house value.

That's far too low to justify the huge sums involved in energy renovations.

20% of the building’s value sounds like a very generous sum for new windows and insulation.

20% is if you insulate your roof and walls, get triple-glazed windows, heat pump with floor heating and solar panels.

That is going to cost quite a bit.

If a home were priced as little at $200,000 then 20% would cover $40k in investments. Homes around here don't sell for the little.

Assuming your percentage is correct and home prices are much bigger it makes it seem like a spectacular investment. Actually too good to be true of an investment.

If the return were 2% or max 5% I could see it maybe not being worth it depending on home prices in your area.

20% is if you insulate your roof and walls, get triple-glazed windows, heat pump with floor heating and solar panels.

That is going to cost in the €150K-€200K range in Europe for a €400K, 150 m^2 house.

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