At the Department of Housing and Urban Development (HUD), a new generation of energy-efficient mortgages is being introduced, commencing with FHA loans offering five percent larger mortgage amounts to people planning to make energy-efficient improvements on their properties.
Incentives for energy saving homes
The federal government’s push for green, energy efficient homes is a strong indication of better financing, higher real estate value and faster sales, which is all good news for consumers and the housing industry. To encourage energy conservation in housing, heftier real estate tax credits are being given for solar panels, solar water heaters, geothermal heat pumps, heavy-duty insulation, windows, air-conditioning and the like. However, this is just the beginning of unprecedented efforts by the federal government to increase green building.