Residential Energy Savings Act of 2013
Key claim: The bill would have the Energy Department create a voluntary loan program so states, territories, and tribes can help homeowners and renters finance energy-efficiency upgrades.
Abstract
(S1200 · 113th Congress) Residential Energy Savings Act of 2013 - Amends the Energy Policy and Conservation Act to require the Secretary of Energy (DOE) to establish a voluntary loan program to provide support to states, U.S. territories, and Indian tribal governments (eligible entities) in establishing or expanding programs that provide to residential property owners or tenants financing for energy efficiency upgrades of residential buildings. Authorizes assistance provided by eligible entities to be in the form of a: (1) revolving loan fund; (2) credit enhancement structure designed to mitigate the effects of default; or (3) program that adopts other approaches for providing financing for upgrades producing significant energy efficiency gains, produces a high-leverage ratio of non-federal funds, and incorporates measures for making the loan repayment system for recipients of financing consumer-friendly. Requires the Secretary to establish a performance incentive providing a repayment discount in an amount equal to no more than the value of the interest accrued on the loan provided, based on performance as evaluated in accordance with specified factors. Makes an authorization of appropriations under this Act effective for a fiscal year only to the extent and in the amounts provided in advance in appropriations Acts. Latest action (2013-06-25): Committee on Energy and Natural Resources Subcommittee on Energy. Hearings held. With printed Hearing: S.Hrg. 113-70.
Why this matters
Financing is a recurring bottleneck for residential efficiency upgrades because upfront costs deter homeowners and renters even when lifetime energy savings would offset them. A federally backstopped state loan program would shift the fiscal and administrative burden from households to state-run revolving funds, testing whether cheap capital alone can accelerate retrofit uptake. Tracking recurring proposals like this one shows how Congress has repeatedly considered — and declined — to build a permanent federal role in home efficiency lending.