President Obama Proposes New Program to Lower Energy Cost
Posted by Raymond Plumbing Heating and Air Conditioning on Fri, Mar 12, 2010
"Cash for Caulkers" and Homestar Program
Intent on promoting a Green America, President Obama recently revealed details of the latest in a series of “clunkers” programs designed to improve U.S. energy-efficiency. Jokingly referred to as “Cash for Caulkers,” Homestar would reward homeowners for improving the energy-efficiency of their homes. The program targets older homes, not new construction, and would reward homeowners for making energy-efficient improvements to their homes.
The Program Promotes Energy-Efficient Homes
While not yet fully fleshed out, the program is expected to focus on weekend warrior and home remodeling projects geared to increase the energy efficiency of existing homes. Structural components like energy-efficient windows, weatherizing and insulation are expected to be included in the program. There is no information on whether the new program will include funds to continue the popular energy-efficient furnace and air conditioner tax rebate program past its current December 31, 2010 expiration date. As proposed, the Homestar would work a bit differently for previous energy-saving programs. Instead of applying for a rebate after purchase, government-sponsored refunds would be issued at the cash register, decreasing the cost of qualifying energy-efficient materials by as much as 50% at their point of purchase. Energy-efficient products that may be included in the Homestar program include energy-efficient windows, window and door insulation products, weatherizing products and remodeling.
Improving the Energy-Efficiency of a Single Home Reduces Annual Energy Costs by $200 to $500
According to the government, 40% of the country’s energy is used to heat and cool buildings. With funding to improve the energy-efficiency of 2 to 3 million older homes, the proposed Homestar program could make a considerable dent in the nation’s energy use and put a little more green in consumers’ wallets. Improving the energy efficiency of a single Lorain County home can reduce annual energy cost by $200 to $500. Multiply that by 3 million homeowners and the savings are considerable. The proposed Homestar program still requires Congressional approval, but we’ll keep you posted.
