Study says owners of energy-efficient homes default less on mortgages
A new study shows the risk of mortgage default is one-third lower for energy-efficient, Energy Star-rated homes</a>.“Home Energy Efficiency and Mortgage Risks” was released by the University of North Carolina at Chapel Hill Center for Community Capital and the Institute for Market Transformation, a nonprofit organization dedicated to promoting energy efficiency.
“Consumer and industry acceptance of energy efficiency is high. But the lack of broad consideration of potential energy savings in the mortgage underwriting process still prevents many moderate- and middle-income homebuyers from fully enjoying the cost savings,” said Roberto G. Quercia, the center’s director and one of the authors of the study. “Since our study findings now show that energy efficiency is strongly and consistently associated with lower mortgage lending risk, lenders and policymakers have one more reason to promote it.”