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Accurate Home Appraisals for Energy Efficient and Renewable Properties.

This Act mandates that federal lending agencies must consider energy efficiency and renewable energy reports when appraising homes for mortgage loans. Citizens gain the right to provide or request an energy report, which qualified appraisers must review, potentially leading to a higher valuation for energy-efficient properties and impacting loan terms. Appraisers must complete specialized training to handle this data.
Key points
Mortgage appraisals must now consider energy efficiency features (like solar panels or insulation) based on a specific energy report provided by the borrower.
Lenders must inform borrowers of their right to submit or request an energy report, which may influence the final appraised value of the property.
Starting March 1, 2026, appraisers must mandatorily consider available energy reports for covered loans, provided the borrower consents.
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Additional Information
Print number: 118_S_4340
Sponsor: Sen. Bennet, Michael F. [D-CO]
Process start date: 2024-05-15
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

GREEN Appraisals Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4340.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-05-15.

What are the main provisions?

Key points include:

  • Mortgage appraisals must now consider energy efficiency features (like solar panels or insulation) based on a specific energy report provided by the borrower.
  • Lenders must inform borrowers of their right to submit or request an energy report, which may influence the final appraised value of the property.
  • Starting March 1, 2026, appraisers must mandatorily consider available energy reports for covered loans, provided the borrower consents.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Bennet, Michael F. [D-CO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Real Estate Environment