HUD PowerSaver Pilot Loan Program

TitleHUD PowerSaver Pilot Loan Program
Publication TypePolicy Brief
AuthorsZimring, Mark, Ian M. Hoffman, and Merrian C. Fuller
Tertiary AuthorsBorgeson, Merrian
Secondary TitleClean Energy Program Policy Brief
PublisherLBNL
Place PublishedBerkeley
Year of Publication2010
Pagination6
Date Published12/2010
Abstract

The U.S. Department of Housing and Urban Development (HUD) recently announced the creation of a pilot loan program for home energy improvements. The PowerSaver loan program is a new, energy-focused variant of the Title I Property Improvement Loan Insurance Program (Title I Program) and is planned for introduction in early 2011. The PowerSaver pilot will provide lender insurance for secured and unsecured loans up to $25,000 to single family homeowners. These loans will specifically target residential energy efficiency and renewable energy improvements. HUD estimates the two-year pilot will fund approximately 24,000 loans worth up to $300 million; the program is not capped. The Federal Housing Administration (FHA), HUD‟s mortgage insurance unit, will provide up to $25 million in grants as incentives to participating lenders. FHA is seeking lenders in communities with existing programs for promoting residential energy upgrades.

Keywordselectricity markets and policy group, energy analysis and environmental impacts department
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