Why is the government shooting down its own green energy program for homes? The program was supposed to allow homeowners to borrow money to cover the up-front costs of installing green energy such as solar energy panels for water heating, home heating, or air conditioning. Presumably this would also allow wind energy projects for your home.
Who is trying to hurt this program? The Federal Housing Finance Agency (FHFA) that oversees Fannie Mae and Freddie Mac has said that the program will add to the risk of mortgages and so Fannie and Freddie may not approve mortgages without more qualification requirements or higher interest rates. This will probably result in killing the program.
So what good is all the White House baloney about green energy if the government is going to road-block it anyway?
How much energy can be saved by homes having green energy savings? Our estimate, based on an average savings of 30% of utility electric and gas cost is 8000 KWH per 2000 sq. ft. house per year. Assuming only 10,000,000 homes are converted, this amounts to 80 Giga-watts-hours, or 80,000 Megawatt-hours per year. Is that a lot? Ask someone at your local utility and see what they say.
So White House, wake up and start managing your agencies, or better yet, just eliminate them!
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