U.S. President Barack Obama yesterday laid out the details of his new HOMESTAR program, nicknamed "Cash for Caulkers," which would provide on-the-spot government rebates to homeowners who make their homes more energy-efficient by installing new windows, doors, insulation and other materials from an approved list.
Obama, who previewed the program during his first State of the Union address in January, urged Congress to adopt the program, saying it would revitalize the U.S. construction industry, help small businesses, and support U.S. manufacturing as well as reducing energy consumption, lessening our dependence on fossil fuels and lowering utility bills for many Americans.
"So these are companies ready to take on new customers . . . workers eager to do new installations and renovations; factories ready to produce new building supplies. All we've got to do is create the incentives to make it happen," Obama said during his remarks at Savannah Technical College in Georgia, where he also noted that the construction industry is currently struggling with unemployment of nearly 25 percent.
"Here's how it would work," Obama said. "We'd identify the kinds of building supplies and systems that would save folks energy over time. And here's one of the best things about energy efficiency . . . a lot of these materials are made right here in America.
"If a homeowner decides to do work on his or her house -- to put in new windows, to replace a heating unit, to insulate an attic, to redo a roof -- the homeowner would be eligible for a rebate from the store or the contractor for 50 percent of the cost of each upgrade up to $1,500," he said. "Now, if you decided to retrofit your whole house to greatly reduce your energy use, you'd be eligible for a rebate of up to $3,000.
"Now, these are big incentives," Obama continued. "And you'd get these rebates instantly from the hardware store or the contractor. So if you went to Lowe's or Home Depot or wherever you went, right there when you paid at the cash register you'd get that money. You wouldn't have to mail in a long form, wait for a check to arrive months later."
The new program would resemble both the "Energy Star" program that promotes the purchase of energy-efficient appliances and last year's "Cash for Clunkers" program, which was designed to boost auto sales and increase fuel efficiency on U.S. roads by providing an economic incentive for consumers to replace old, low-mileage vehicles with new, fuel-efficient models. The program is expected to cost about $6 billion, which would provide economic incentives, in the form of instant cash rebates, for as many as 3 million homeowners to do energy-saving renovations.
But don't rush down to Home Depot just yet. The proposal is still working its way through Congress, which must authorize funding before the program can be set up and any money can change hands.
By Larry West
Links:
http://www.whitehouse.gov/the-press-office/fact-sheet-homestar-energy-efficiency-retrofit-program
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