Federal legislation to slash energy use and lower efficiency retrofit costs, known as SAVE\u2014the Sensible Accounting to Value Energy Act\u2014aims to bolster clean energy by incorporating the value of home efficiency measures into appraisal and mortgage guidelines. S. 1106 is a reintroduction of a 2011 measure by Senators Michael Bennet(D-CO) and Johnny Isakson(R-GA). \u201cThe average homeowner spends more than $2,500 each year on energy costs, more than on either real estate taxes or homeowners insurance, but energy costs are not taken into account when determining the cost of a home loan,\u201d according to Bennet. \u201cOn average, these energy costs amount to more than $70,000 over the life of a 30-year mortgage.\u201d Oakland-based Renewable Funding developed county-based loans for renewable energy and efficiency building retrofits to be paid back with long-term property assessments, known as Property Assessed Clean Energy programs. These PACE programs were undermined by the federal housing agencies in 2010 because they were viewed as threatening to the shaky mortgage market. The proposed act aims to \u201cimprove mortgage underwriting\u201d by the federal agencies, including for refinancing loans, by requiring them to include home energy costs, incorporate energy savings from double-paned windows, cool roofs, improved insulation and other conservation measures in appraised home values and adjust allowable levels of debt to reflect the value, according to the Alliance to Save Energy. \tThe SAVE act specifically directs the Federal Housing Finance Agency and Fannie Mae and Freddie Mac, which guarantee the vast majority of home loans in and outside California, to factor in energy efficiency retrofits into their underwriting policies.