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HR 8402 United States House · 118th Congress

GREEN Appraisals Act of 2024

The GREEN Appraisals Act of 2024 requires appraisers to consider energy efficiency features - like solar panels, insulation, and estimated energy savings - when valuing homes for government-backed mortgages (such as FHA, VA, and USDA loans). It mandates that lenders disclose to borrowers the option to submit energy reports, which must meet specific standards (e.g., HERS ratings), and ensures appraisers factor this data into property valuations starting March 1, 2026. Homeowners applying for these loans directly benefit by having energy efficiency impacts reflected in appraisals, potentially affecting loan terms or property value. The bill does not guarantee higher valuations but standardizes how energy data is reviewed, with lenders required to share reports with appraisers upon borrower consent.
Issues: ✓ EnergySupports EnergyMandates appraisers to consider solar panels, insulation, and energy savings in home valuations, directly promoting energy efficiency and renewable energy features for government-backed mortgages.95% confidence ✓ EnvironmentSupports EnvironmentMandates appraisers to factor energy efficiency features (solar, insulation) into home valuations for government mortgages, incentivizing eco-friendly upgrades that reduce energy consumption and emissions.90% confidence ✓ HousingSupports HousingBill requires appraisers to consider energy efficiency features in government-backed mortgages, reducing long-term energy costs for homeowners and lowering overall housing expenses, directly supporting affordability.85% confidence
Sub-Topics: Mortgages Energy Efficiency Solar
Bill status in committee 1 of 4 stages cleared
Introduction
May 2024
Committee Review
Floor Vote
President
Introduced May 15, 2024 Last action Jun 27, 2024
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Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
2
Jun 27, 2024
House · Referred to committee
Referred to the Subcommittee on Economic Opportunity.
May 15, 2024
House · Referred to committee
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 15, 2024
House · Introduced
Introduced in House
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Sean Casten
Sean Casten
DDemocratic
IL
6