Rated Homes Midwest is a voluntary, market driven program developed by a coalition of housing industries, working in partnership with the Indiana, Kentucky, and Michigan state energy offices. Its mission is to increase residential energy efficiency and provide more affordable housing in the process. At the request of a home buyer, seller, builder, or lender, this system will assign a rating of one to five stars to a new or existing home. The rating will also provide an estimate of utility costs and may include recommendations for specific energy improvements.
Energy efficiency is a critical issue for affordable housing.
The cost of heating and cooling a home is the highest cost of owning a home outside of the mortgage loan. It is now possible to reduce a home's energy use by a third using cost effective and readily available technologies and building practices. Home energy ratings and energy mortgages provide an opportunity to increase home ownership while fostering housing that is more comfortable, of higher quality and more affordable to own. After the inspection, the data collected is analyzed to determine each home's individual rating. The inspection and subsequent rating can then be used to secure lower cost financing, to forecast a new home's utility costs, and to provide guidance to home owners as to the most cost effective energy saving home improvements.