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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↗
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↗