One group has ideas on how to cut mortgage rates as well as energy use (Photo by Lisa Ann Pinkerton)
One group thinks the government should invest in energy conservation because it means jobs now and more money to stimulate the economy. Lester Graham reports:
Transcript
One group thinks the government should invest in energy conservation because it means jobs now and more money to stimulate the economy. Lester Graham reports:
The group, Architecture 2030, wants leftover money from TARP and even more from the 2009 economic stimulus package to be spent on private homes and commercial buildings.
Edward Mazria is an architect and founder of the group. He says if the owners make the houses or buildings 75% more energy efficient the government should refinance mortgages.
The energy conservation improvements would make the mortgage bigger, but the government would lower the rate something like 2.5%. So the monthly payments would actually be lower.
People in the building trades are put to work right away. Businesses and homeowners save on energy bills in the future.
“For every dollar the government puts in, that’s anywhere from two to six dollars of private spending on efficiency measures and lowering energy consumption.”
Mazria says the government should fund the most energy efficient projects first.
For The Environment Report, I’m Lester Graham.