The Biden administration has finalized a sweeping rule change. This change raises the bar for real estate developers who want newly built homes to qualify for U.S. government-backed loans, laying the groundwork for a massive overhaul in the way Americans build houses. The new energy codes, which have sparked controversy within the construction industry, are expected to save Americans $2.1 billion on energy bills while adding $605 million in total construction costs.
“These long-overdue actions will protect homeowners and renters from high energy costs while making a real dent in climate pollution,” noted Lowell Ungar, federal policy director of the American Council for an Energy-Efficient Economy. The recent regulatory developments are part of the broader Biden agenda to combat climate change, which also saw the Environmental Protection Agency set the nation’s first-ever limits on power plants’ carbon emissions and a new rule requiring federal buildings to go electric in new construction.
The updated codes are projected to affect at least 140,000 new homes annually. The U.S. does not set building codes on the national level. Instead, states and municipalities adopt codes written by two main third-party nonprofits, with the Washington, D.C.-based International Code Council serving as the primary author of standards for building single-family homes.
Formed out of 1990s-era consolidation of disparate code-writing organizations, the ICC convened representatives from elected governments, advocacy groups and industry associations every three years to update its codebook. The nonprofit maintained democratic legitimacy over the process by allowing only government officials to vote on the final codes at the end of the convention.
The landmark Inflation Reduction Act, passed under Biden’s leadership, already earmarks over $1 billion to assist states in adopting these newer codes. Jessica Garcia, a senior policy analyst at Americans for Financial Reform Education Fund, said, “We are encouraged by HUD’s decision, and urge the Federal Housing Finance Agency to follow suit and swiftly adopt the latest energy efficiency codes.”
Relevant articles:
– This New Biden Rule Will Save Americans $2 Billion On Utility Bills – The long-awaited move lays the groundwork for a massive overhaul in the way Americans build houses., huffpost.com, 04/27/2024
– The Biden Administration’s Plan to Make American Homes More Efficient, The New Yorker, Thu, 25 Apr 2024 21:04:40 GMT
– Biden may seek to raise taxes on rich to bankroll latest legislative relief effort, AOL, Fri, 26 Apr 2024 15:24:01 GMT
– Biden Bans Gas Stoves and Appliances in Federal Buildings, Daily Signal, Wed, 24 Apr 2024 21:25:52 GMT
– The Latest | Prosecution calls its 3rd witness in Trump’s hush money trial, AOL, Fri, 26 Apr 2024 12:06:30 GMT