August 9, 2013
The development of focus on energy efficiency can assist many homeowners in immediate savings as the cost of energy increases. The work developed to support homeowners can lend ample support to homeowners seeking economic relief to make energy efficiency changes. The strident work in pursuit of homeowners by “Senators strive to help buyers finance energy-efficient homes” is one more step in consumer protections.
House Wiring reports that “U.S. Sens. Johnny Isakson, R-Ga., and Michael Bennet, D-Colo., introduced their SAVE Act legislation last week as an amendment to S.1392, the Energy Savings and Industrial Competitiveness Act of 2013.”
“In a press release, the senators said the legislation will encourage sellers to make home energy efficiency investments in their homes to attract future homebuyers interested in reduced energy costs. Additionally, the amendement will benefit the home construction industry, which will be able to better offer affordable, energy-efficient properties.”
It is reported that “The amendment will allow federal mortgage loan agencies to consider a home’s energy efficiency and expected monthly energy bills when determining the homebuyer’s ability-to-pay monthly mortgage payments. According to the press release, the amendment could save homeowners more than $70,000 over the life of a 30-year mortgage.”
Yet, for those homeowners that are buying older dwellings and not new could reduce overall home purchases. The legislation favors new construction and not the majority of homes that are older, in need repair and are not energy efficient at the time the seller places the home on the market. Further, the legislation could produce a constraint on home buying but force the construction industry to build more efficiently. The SAVE Act is a dual edge sword that advances the future but leaves room for improvement in the present.
- Pueblo Toyota Takes Advantage of Black Hills Energy’s Small & Medium Business Direct Install Program, Saves $557 Per Month (prweb.com)
- Green Home Could Result in a Larger Loan (athomesense.com)
- French Gerleman Attains Ameren Missouri’s ActOnEnergy BizSavers™ Platinum Trade Ally Status (prweb.com)
- Go green? Get a bigger mortgage (cnbc.com)
- Beware Energy Efficiency Overpromises (prometheus.org)
- Forget Energy Efficiency, Think Exergy (greentechmedia.com)
- Salt Lake City’s New Zero Home is One of the Most Energy-Efficient Houses in the US (inhabitat.com)
- What Does It Mean For Energy Efficiency To Be A Resource In Texas? (forbes.com)
- Making case for energy efficiency (politico.com)
- Green investment in Malaysia (servcorp.com.my)