Energy Efficient Mortgages

In order to promote energy efficiency, HUD is proposing an Energy Efficient Mortgage product for homeowners which could provide incentives to those that invest in clean energy improvements.

HUD is also encouraging all federally-assisted housing agencies to go green. Through $250 million from the Recovery Act and $600 million in Capital Fund competitive grants, agencies are able to increase energy efficiency in their properties which will save money, protect the environment, and create jobs.

The  President’s announcement  to award 100 grants totaling $3.4 billion to private companies, utilities, cities, and other partners to help build a nationwide smart energy grid. As part of the American Recovery and Reinvestment Act, Baltimore Gas and Electric (BGE) in Baltimore, MD will receive $200 million to install two-million residential and commercial smart meters. These meters will reduce peak electricity usage by as much as one-third and save customers approximately $2.6 billion.

The Smart Grid will allow consumers to have real-time information on the costs of their energy use, and the ability to manage their energy consumption and save money