The History of RESNET
Back in 1981, a group of mortgage industry leaders got together to set up the National Shelter Industry Energy Advisory Council. The purpose of the Council was two-fold:
- To establish a way to measure the financial savings generated by energy efficient features in a home
- To credit that home' s energy efficiency in the mortgage loan
That was how a national non-profit organization known as the Energy Rated Homes of America was born.
The history of energy mortgages dates back to the early 1980s when Fannie Mae, Freddie Mac, the U.S. Department of Housing and Urban Affairs, Federal Housing Administration (FHA) and the Veterans Administration (VA) all adopted energy mortgage programs. These programs, however, were not widely used due to a number of reasons including:
- A lack of consumer and lender awareness
- No uniform method of efficiency evaluation (except in a few states with home energy rating systems)
- Complicated program procedures
In April 1995, representatives of the national mortgage industry, the National Association of State Energy Officials, and Energy Rated Homes of America decided to do something about this by founding the Residential Energy Services Network (RESNET). RESNET's task was to develop national standards for home energy ratings and to create a market for home energy rating systems and energy mortgages.
RESNET's activities were initially guided by a mortgage industry steering committee, composed of the leading national mortgage executives. For information on the mortgage industry steering committee, click on RESNET Mortgage Industry Steering Committee.
In 2002 RESNET became incorporated as a 501 (c) (3) non-profit organization and Energy Rated Homes of America was merged into the organization, with a Board of Directors governing RESNET.
After more than a decade of development, the infrastructure needed to make energy efficiency a standard feature in the nation' s housing market is now in place. Across the nation, rating programs, in partnership with the housing industry, are forging the public and private partnerships required for successful home energy rating systems. The technical, program and marketing assistance required for this effort is provided by RESNET.