The SAVE (Sensible Accounting to Value Energy) Act is a reasonable, cost-effective approach to improving mortgage lending and promoting energy efficiency. The act would instruct federal loan agencies to assess a borrower’s expected energy costs when financing a house, which will enable better, more transparent mortgage underwriting, reduce homeowners’ utility bills and hopefully prompt the creation of new jobs in the housing industry.
The Bill Explained
For too long, lack of information about a household’s energy use has resulted in many homeowners miscalculating the true cost of living. The cost of living in a house should be viewed not just as the mortgage or rent payment, but that specific payment plus the utility costs. When homeowners are given a true sense of what utility costs amount to for a particular home, and are armed with the knowledge of what energy actually costs, they will be better able to take control to reduce costs. Not only will homeowners be able to save money, but their actions will also result in environmental benefits such as reducing stress on the electric grid, and therefore harmful greenhouse gas emissions, and improving energy security.
EDF In Full Support
EDF is in full support of this legislation because the information available due to the passage of this bill would make mortgage lending more transparent and actually more accurate since it would depict the true cost of living. On top of these benefits, this bill would reduce America’s energy dependence and thus promote economic growth in the construction and manufacturing sectors.
For more information, please see the SAVE Act fact sheet.


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As Halloween draws near, beware of vampires – not the mythical blood suckers, but the unrelenting energy suckers draining power from your house right now. These costly creatures can add as much as 20 percent to a family’s utility bill, and that’s a pretty scary thought during these tough economic times.