Michael Bennet: “I am very pleased with the Senate's show of support for the Isakson-Bennet amendment, which was a modified version of…”

“I am very pleased with the Senate's show of support for the Isakson-Bennet amendment, which was a modified version of the Sensible Accounting to Value Energy Act. We have been working on this bill together for more than five years. The SAVE Act simply creates a voluntary program to encourage people to include energy efficiency in the purchase price of a new or existing home. It allows sellers the option of providing a HUD-qualified energy efficiency report to prospective buyers who are applying for a home mortgage. If that loan is backed by FHA, the energy efficiency of the home and the cost of a borrower's future energy bills will be taken into account by the mortgage lender. Builders and manufacturers are constantly creating new energy efficient products and features, but the enhanced value and energy savings achieved by these innovations are not fully realized by the market. The passage of this amendment will for the first time provide a mechanism to account for those saving and unlock demand for new energy efficient products and significantly reduce homeowner's utility bills.”