"Recovery Through Retrofit" Is it more bunk from the White House?

Vice President Joe Biden recently announced a new "Recovery Through Retrofit" initiative that includes creation of "energy performance labels" and "national energy performance measures" for existing homes. This program seeks to create a national home energy retrofit market by providing: (1) access to home energy retrofit information; (2) access to home energy retrofit financing methods; and (3) access to a trained home energy retrofit workforce. 

NAR strongly supports providing property owners with the education, incentives and resources they need to voluntarily improve their homes and save energy. However, NAR is very concerned that this proposal intends to use the home buying process as the vehicle to implement the labeling of homes. NAR strongly opposes this concept. If the goal is energy efficient homes and buildings, the most effective approach would be to provide the financial resources and incentives that educate and empower property owners to make needed energy improvements. 

NAR President Charles McMillan wrote the White House and the heads of all Federal departments involved in the labeling initiative, requesting an immediate meeting to share our strong concerns about the stigmatizing effects of these labels on real estate at one of the most critical moments in the nation's economic recovery. NAR has also written a subsequent letter from President Vicki Cox Golder describing our concerns in more detail. NAR staff will continue to engage the responsible federal agencies in this process, as well as alert key congressional offices regarding our concerns in this area. 

Visit NAR's Energy Resources/Energy Efficiency homepage on realtor.org.