Energy Efficiency and Your Home
Energy and water efficiency improvements can take many forms. Prioritize those that are most-needed for your home or circumstances and offer the greatest savings over time. A few options to consider include:
- Installing energy-efficient windows and doors
- Increasing home insulation
- Installing a solar power system, also known as a photovoltaic (PV) system
- Replacing a hot water heater with a more energy-efficient system
- Installing a programmable thermostat
- Upgrading a heating, ventilation, and air conditioning (HVAC) system
These additional resources may also be helpful:
Sensible financing for improvements
Energy efficiency may seem like a luxury if your financial resources are limited. But it’s important to consider the potential monthly and long term savings plus the positive effects on your home’s resale value. You can estimate energy cost savings using online calculators available from many providers through a web search.
The financing option you choose is equally important. Using cash or short-term debt such as a credit card can work for small expenses. But for larger projects consider lower cost and less burdensome options like:
- Energy mortgages
- Home equity loans or lines of credit
- Grants and assistance programs
- Utility company financing
Benefits of energy mortgage financing
While individual circumstances should guide your energy-related financing decisions, the ability to include energy investments in your home purchase or refinance—and to spread the costs over the life of your loan—can make energy upgrades an affordable and attractive option.
Learn about Fannie Mae’s energy efficiency mortgage HomeStyle® Energy to see if it may work well for you.
- Database of State Incentives for Renewables & Efficiency (DSIRE)
- U.S. Department of Energy – Energy Efficiency site
- Find a Housing Counselor
Always compare and shop around for the energy efficiency upgrades that work best for your financial situation. To determine if you may qualify for an energy efficiency mortgage, talk to your real estate professional, lender, or financial provider.