Gas stoves are under attack. It’s no longer limited to multi-family developments in certain states that can’t use gas stoves, but now the Biden Administration is looking to outlaw their use across the country. I’m not sure exactly how this will be implemented. Perhaps they will come up with a plan whereby a homeowner would register his/her gas stove with the government and the government would then have a crew come out and install a new electric stove. It’s not clear how many gas stoves are in operation but it could easily be 15-20 million. If the average new electric stove costs $1,000 then the U.S. government might get this done for a mere $20 billion or so. That does not include the cost to take away and destroy 20,000,000 stoves. It also doesn’t take into account if electrical upgrades need to be made to accomodate the new electric stoves in U.S. homes. I’m not sure what that might cost so maybe that’s another $5 billion? Perhaps the U.S. could do this for $25 billion? Just a drop in the bucket. Maybe they can get the manufacturers onboard if they convince them that there will be $15-$20 billion in sales staring them in the face. But that said, the supply chain and manufacturing capacity would never allow this. So, if they do this, it most likely will be a slow conversion that would take place over the next 20 years or so.
Husband of 36 years to my college sweetheart, Janet Murphy (@janetmurphydesign on Instagram). Together we have 6 wonderful children from ages 18-34 and 6 grandchildren. My main work is helping commercial building owners and real estate investors save money on their income taxes by doing cost segregation. I work all over the U.S. but have a lot of clients here in SC and in the southeast in particular. The firm I represent is CSSI, LLC. I love the work! I’ve also been a licensed REALTOR since 2003 and broker since 2007 but my work is limited to just a few clients each year. We relocated to Greenville, SC for the lifestyle, lower cost of living, amazing amenities in the area and the growth opportunity for business and real estate. We absolutely love it here!
All opinions are expressly my own and do not represent either CSSI, LLC or eXp Realty LLC or any other company, organization or group that I might be affiliated with.