Meritage Backs Senate Bill To Cut Cost Of Energy-Efficient Homes
by: Andrew Schneider, December 29, 2011 4:12:00 am
Energy-efficient features can add tens of thousands of dollars to the up-front costs of buying a house. That’s often enough to deter would-be homeowners from going green. The Sensible Accounting to Value Energy, or SAVE, Act seeks to remedy that.
The bill would require federal mortgage agencies, including Fannie Mae and Freddie Mac, to adopt new mortgage underwriting and realty appraising rules that reflect homeowner energy costs.
CR Herro is vice president of environmental affairs for Meritage Homes.
“The key to the SAVE Act is it’s driving energy efficiency within new homes and the home retrofit market to reduce our dependency on foreign oil, to reduce utility infrastructure costs, and to really drive money back into individual consumers that becomes discretionary income that currently is spent on the operating costs of their homes.”
Neither Texas Senators Kay Bailey Hutchison nor John Cornyn have taken a position on the SAVE Act.