The joint California Investor-owned Utilities contracted a team to conduct a market characterization of zero net energy (ZNE) new construction homes in California. The study characterizes the residential ZNE-type new construction market by estimating the market sizes and exploring trends for ZNE and ZNE-type homes, assess residential energy rating systems, and financing opportunities for ZNE-type homes; and assess drivers, barriers, and opportunities to messaging, building, financing, and purchasing residential ZNE-type new construction. The study found that ZNE-type homes are in the innovator stage of market adoption.