Energy Efficiency as a Tool for Developing and Preserving Affordable Housing

[Lee Cruz]

Apr 19, 2022

By: Kayla Giordano

With spring bringing warmer weather, households across Connecticut rejoice as temperatures rise and home heating season comes to an end. A recent survey found that the average monthly energy bill for Connecticut consumers is $411 the highest in the nation. Together with the threat of climate change, international conflict, and disrupted supply chains, increasing the energy efficiency of households is front of mind. This is doubly true for the state’s low- and moderate- income residents who bear an increased burden of high energy costs. A 2020 report from the American Council for an Energy-Efficient EconomyDownload PDF found that low-income households faced the greatest energy burden of all income types, meaning they spent the largest percentage of their income on energy costs. Furthermore, low-income renters, who have limited ability to increase the energy efficiency of their homes, face a greater energy burden than those who own their homes. Low-income renters living in multifamily buildings spent 5% of their income on energy costs, compared to non-low-income renters who spent just 1.5% of their income on utilities. Given that one third of Connecticut residents are renters and over 300,000 of them make under 80% of the area median income, it is critical to consider energy efficiency in the construction and preservation of affordable housing...

https://www.chfa.org/the-intersect/energy-efficiency-as-a-tool-for-...