SUBJECT Energy Efficient Mortgage Program

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SUBJECT Energy Efficient Mortgage Program Powered By Docstoc
					KATHARINE M. WATSON, MEMBER                                                                    COMMITTEES
REPUBLICAN DEPUTY WHiP
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               TO:               Colleagues in the House of Repre~enJtives

                                                                 ~~W~
                                                                                               APPOINTMENTS


               FROM:             Representative Kathy Watson                                   INTRAGOVERNMENTAL COUNCIL
                                                                                                  ON LONG·TERM CARE


               SUBJECT:          Energy Efficient Mortgage Program
                                 (HB543 of 2007-08 Session)

               DATE:             January 14, 2009

               Shortly, I plan to re-introduce legislation that I sponsored for the past two Sessions and one
               Special Session on Energy establishing an Energy-Efficient Home Assistance Program to be
               administered by the Pennsylvania Housing Finance Agency. This two~year pilot program would
               provide a grant of$2,500 to the purchaser of a new home that exceeds the energy and water
               conservation requirements in the Statewide Uniform Construction Code and achieves an Energy
               Star Certification. This grant could be used to offset closing costs, provide down-payment
               assistance, or a mortgage rate buy~down.

               My legislation also allows for an additional grant of $2,500 to be provided to the purchaser of a
               home that incorporates an alternative energy system, such as a solar hot-water heating system,
               photovoltaic solar energy system, geothermal heat pump system, or wind generating system. To
               receive a grant under this program, the home must be the primary residence of the grantee;
               maximum household income cannot exceed 200% of the statewide median income; and the
               home must be new construction with no prior occupants.

               The opportunities for savings in energy and in energy costs in the residential sector are
               significant. Typically, the energy savings in high efficiency homes is 80% compared to a
               conventionally built home. This means a difference between a conventionally built home with a
               combined heating and cooling cost of $4,000 per year, as compared to an ultra energy efficient
               home with an integrated solar energy system having a combined heating and cooling cost of
               about $800.00 per year. The savings in energy costs is significant, not to mention the reduction
               in peak energy demand and the air pollution, reducing effects that a more widespread reduction
               in energy can bring.

               If you would like to co·sponsor this legislation, please contact Meredith Schuler in my office at
               787-5452 or via e-mail atmschuler@pahollsegop.com. Thank. you.

               KMW/ccm