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All sourcesNASA NTRSDOE OSTI
DOE OSTI2021

The Clean Energy Mortgage

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32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATI↗
DOE OSTI2022

How Does Home Energy Score Affect Home Value and Mortgage Performance?

Energy-efficient homes save their occupants money through lower energy bills. These savings might be capitalized into higher home sale prices. They also improve the household’s net cash flow, which might make households better able to pay mortgage debt. The U.S. Department of Energy (DOE)’s Home Energy Score (HES) assigns a 1-10 score to homes and estimates annual energy bills based on modeled energy consumption. In this paper we investigated the relationship between HES metrics and two housing market outcomes: home sale price and mortgage performance. We found that the relationship was only statistically significant in places with a mandatory HES assessment at the time of sale. Using a sample of 26,291 home sales that occurred after HES assessments, we found that a one-point increase in HES in these locations was associated with a 0.5% increase in sale price, and an increase in $100 of estimated annual energy bills was associated with a 0.4% decrease. This magnitude of effect is consistent with estimated magnitudes of home sale premiums for other green or energy-efficient home certifications in the literature. We also found that a one-point increase in HES was associated with a 5.5% reduction in the odds of a loan going 30 days delinquent if the loan originated after the assessment occurred. Similarly, we found that a $100 decrease in estimated annual energy bills was associated with a 2.3% decrease in the odds of a loan going delinquent if it originated after the assessment occurred. Our results suggest that HES provides a valuable signal for housing market transactions in specific situations.

Pigman, Margaret↗
DOE OSTI2020

Energy Cost and its Impact on Commercial Mortgage Default Rates

This document summarizes a study by Lawrence Berkeley National Lab and the University of California's Haas School of Business about energy cost and its impact on commercial mortgage default rates, with information about the impact of energy risk on mortgage pricing and the development of an energy risk metric.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2025

DOE Zero Energy Ready Manufactured Housing: Subject Matter Expert Technical Assistance Summary

Manufactured homes offer American consumers an affordable option for decent single-family detached housing. For working-class American families in many U.S. markets, manufactured homes are the first step toward home ownership. They now make up 10% of all new homes constructed in the United States, with higher percentages in the south and in rural communities. To help encourage the production of homes that are more durable, healthy, efficient, and disaster resistant, the U.S. Department of Energy is bringing its building science research to the manufactured housing industry through DOE’s Zero Energy Ready Manufactured Home (ZER-MH) program, which provides technical assistance and voluntary guidelines to manufactured home builders. Homes built to these guidelines are better able to handle power outages and less likely to experience moisture issues, offering a better product option for American families. This higher quality is evidenced by energy modeling which shows homes manufactured to these voluntary guidelines will typically use half the energy of manufactured homes built to the current minimum requirements of the U.S. Department of Housing and Urban Development (HUD)’s Manufactured Housing and Construction Safety Standard (MHCSS). These homes can also reduce critical energy demand during the busiest hours of the day, typically late afternoon and early evening in the summer when air conditioning demand is highest and mornings in the winter when furnaces and heaters are heating up. Reducing electricity demand during these peak periods when electricity rates are at their highest reduces costs for American families while freeing up capacity on overburdened energy distribution networks. Builders participating in the DOE ZER-MH program are eligible for a tax incentive via the 45L tax credit, which helps to offset the costs of ZER-MH upgrades, enabling builders to offer these certified homes at no additional cost. Together these factors enable manufactured homes to offer home buyers a housing option that is both affordable to finance and affordable to operate, with lower monthly mortgage payments and lower monthly energy bills.

32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATI↗
DOE OSTI2026

Energy Cost Estimate Tool v2.0: Methodology and Usage

Information about home energy costs is essential for appraisers, lenders, and buyers, but reliable data are often unavailable in real estate transactions. To fill this gap, the National Laboratory of the Rockies developed the Energy Cost Estimate (ECE) tool. The tool provides flexible, data-driven estimates of annual household energy use and costs across the contiguous United States, using only a small number of inputs typically found in mortgage appraisals. This report presents the methodology behind version 2.0 of the ECE tool, demonstrates how users can generate estimates through its interface, and discusses its applications and limitations.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
NASA NTRS2005

Application of the Hilbert-Huang Transform to Financial Data

A paper discusses the application of the Hilbert-Huang transform (HHT) method to time-series financial-market data. The method was described, variously without and with the HHT name, in several prior NASA Tech Briefs articles and supporting documents. To recapitulate: The method is especially suitable for analyzing time-series data that represent nonstationary and nonlinear phenomena including physical phenomena and, in the present case, financial-market processes. The method involves the empirical mode decomposition (EMD), in which a complicated signal is decomposed into a finite number of functions, called "intrinsic mode functions" (IMFs), that admit well-behaved Hilbert transforms. The HHT consists of the combination of EMD and Hilbert spectral analysis. The local energies and the instantaneous frequencies derived from the IMFs through Hilbert transforms can be used to construct an energy-frequency-time distribution, denoted a Hilbert spectrum. The instant paper begins with a discussion of prior approaches to quantification of market volatility, summarizes the HHT method, then describes the application of the method in performing time-frequency analysis of mortgage-market data from the years 1972 through 2000. Filtering by use of the EMD is shown to be useful for quantifying market volatility.

Huang, Norden↗
DOE OSTI2021

Housing Stability Index: Measuring the risk of housing disruption during the COVID-19 pandemic

The Housing Stability Index (HSI) quantifies the decreased stability of housing (renter or owner occupied) across the United States due to missed or deferred housing payments (rent or mortgage payments) or serious delinquency. This is done through calculating the ratio of the near real-time percentage of occupied housing units not at risk of eviction or foreclosure to the baseline percentage of occupied housing units not at risk by county. For purposes of this index, “at risk” indicates a higher percentage of residents unable to make rent or mortgage payments. An HSI value of 1 indicates no additional housing instability (above housing instability before the start of the COVID-19 pandemic) due to COVID-19 while declining values indicate increasing housing instability. Argonne also created two sub-indices, Owner-Occupied Housing Units at Risk and Renter Occupied Housing Units at Risk, to differentiate risk between homeowners and renters.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
NASA NTRS1978

Tech House

The members of the Swain family- Dr. Charles "Bill" Swain, wife Elaine, daughter Carol, 17, son "Chuck", 12, and dog Susie have an interesting assignment. They are active participants in an important NASA research program involving the application of space-age technology to home construction. b' Transplanted Floridians, the Swains now reside in NASA's Tech House, lo~atedat Langley Research Center, Hampton, Virginia. Their job is to use and help evaluate the variety of advanced technology systems in Tech House. A contemporary three-bedroom home, Tech House incorporates NASA technology, the latest commercial building techniques and other innovations, all designed to reduce energy and water consumption and to provide new levels of comfort, convenience, security and fire safety. Tech House equipment performed well in initial tests, but a house is not a home until it has people. That's where the Swains come in. NASA wants to see how the various systems work under actual living conditions, to confirm the effectiveness of the innovations or to determine necessary modifications for improvement. The Swains are occupying the house for a year, during which NASA engineers are computer monitoring the equipment and assembling a record of day-to-day performance. . Tech House is a laboratory rather than a mass production prototype, but its many benefits may influence home design and construction. In a period of sharply rising utility costs, widespread adoption of Tech House features could provide large-scale savings to homeowners and potentially enormous national benefit in resources conservation. Most innovations are aerospace spinoffs: Some of the equipment is now commercially available; other systems are expected to be in production within a few years. Around 1980, a Tech House-type of home could be built for $45-50,000 (1 976 dollars). It is estimated that the homeowner would save well over $20,000 (again 1976 dollars) in utility costs over the average mortgage span of 20 years.

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