Biden-Harris Administration Announces New Actions and Investments to Lower Energy Costs and Make Homes More Energy Efficient

On May 11, the Biden-Harris Administration announced new actions and investments from the Department of Housing and Urban Development to lower energy costs and make homes more energy-efficient and climate-resilient for hard-working families. The new measures are part of President Biden’s Investing in America agenda to incorporate climate risk and mitigation into federally-supported housing. The administration is releasing more than $830 million funding notice for the Inflation Reduction Act’s Green and Resilient Retrofit Program (GRRP) and $4 billion in loan commitment authority for this new program. HUD also proposes to adopt the latest energy codes to improve the performance and efficiency of new homes and help homeowners and renters save money. Furthermore, HUD will now prioritize the use of building materials with lower embodied carbon for retrofits and new construction. The actions will help American families save money on energy costs and keep their homes warm in the winter and cool in the summer, especially as communities across the country cope with climate-fueled extreme temperatures and volatile weather. These steps will provide additional support for low- and moderate-income families, and complement tax credits that families and building owners can use under the Inflation Reduction Act to install energy-saving equipment and make building upgrades. The Biden-Harris Administration’s goal is to retrofit four million buildings and two million homes during his first term, making progress towards the transition to a clean energy economy.