Administration Launches New Energy “Earthshot” to Lower Energy Bills in Affordable Housing
On Friday, Oct.12th, the Administration announced the launch of a new Dept. of Energy (DOE) initiative, called the Affordable Home Energy Shot, that centers on the “research, development, and demonstration of clean energy solutions to decarbonize and to shot webpage deliver energy and cost savings for affordable homes.” Per a DOE press release, “ The Affordable Home Energy Shot™ will drive innovative clean energy solutions in the affordable housing sector that will reduce greenhouse gas emissions, make homes more resilient, and save residents money. This effort advances the Biden-Harris Administration’s environmental justice and equity goals, including the Justice40 Initiative, by lowering the cost of energy-efficient retrofits and reducing overall energy costs and carbon intensity of homes across the U.S. The announcement is part of the Biden-Harris Administration’s third Investing in America tour, where Secretary of Energy Jennifer M. Granholm visits Mercy Housing – Englewood Community Apartments.
Energy Earthshots are the frontiers of the clean energy transition and areas where DOE has set bold goals to meet the biggest remaining research and development (R&D) challenges in next-generation clean energy technologies. The Affordable Home Energy Shot™ is the eighth and final DOE Energy EarthshotTM, setting a bold target to reduce the cost of decarbonizing affordable homes by at least 50%, and decrease residents’ energy costs by at least 20% within a decade.
“The windows, walls, and roofs that protect our families from the elements and keep us healthy and safe are some of the most effective tools we have to lower our utility bills fight climate change, and advance environmental justice,” said U.S. Secretary of Energy Jennifer M. Granholm. “This Energy Earthshot, the Affordable Home Energy ShotTM, will focus the Department’s research and development efforts on the most promising next-generation materials and technologies to make energy-efficient home upgrades accessible to all.”” Members can learn more about the Affordable Home Energy Shot from this factsheet and visit the initiative’s website.
Federal Housing Finance Agency (FHFA) to Host Property Insurance Symposium
Today, the Federal Housing Finance Agency (FHFA) announced it is hosting a property insurance symposium on November 14th and 15th. According to FHFA, the goal of this event is “to foster dialogue on the growing challenges related to the availability and affordability of property insurance…” The event will be hosted in-person in Washington, D.C., with the option to attend virtually. Additional details for the symposium will be released soon and NAHMA will be sure to share them. FHFA’s announcement can be found: HERE
FHFA Director Sandra Thompson stated, “We are looking forward to engaging with industry leaders and stakeholders on an issue that is increasingly affecting borrowers, lenders, and guarantors in housing financing…As natural disasters increase in frequency, major damage to properties and infrastructure has also increased, causing stress on insurance markets.”
Upcoming Senate Hearing on How CDFIs Promote Housing and Economic Opportunity
This week, the U.S. Senate returns for a brief recess. On Tuesday (Oct. 17th) , the Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development will have a hearing entitled, “How Community Development Financial Institutions Promote Housing and Economic Opportunity.” The witnesses will be: Ms. Julia Nelmark, President and Chief Executive Officer, Midwest Minnesota Community Development Corporation; Ms. Renay Dossman, President and Chief Executive Officer, Neighborhood Development Center; and Ms. Chrystel Cornelius, President and Chief Executive Officer, Oweesta Corporation. The hearing begins at 2:30 pm EST, members can view it HERE