Earthcharter

Obama to announce energy efficiency program "Cash for Caulkers" today

Tuesday, 02 March 2010 16:07

Image credit: Charles and Hudson

In an effort to promote energy efficiency and create green-collar jobs, President Obama will unveil a new program today that would provide $6 billion in rebates to homeowners making efficiency improvements. Called the Homestar energy program, the initiative is widely referred to as "Cash for Caulkers" and would allow consumers to collect rebates of more than $1,000 for purchases of energy efficiency equipment. In a briefing Monday night from top administration officials, details of the plan were laid out. The Wall Street Journal reports:

The proposed program could be used at the same time as existing retrofitting programs offered by the federal government or by local jurisdictions, allowing homeowners to maximize their incentives.

Though the White House says measure has growing support in the Senate, Congress has been slow to take it up. Administration officials are hoping to see it incorporated into a series of jobs bills being drafted in the Senate.

Under the proposal, consumers who undertake straightforward improvements—insulation, duct sealing, water heaters, furnaces or air-conditioners, windows, roofing and doors— would be eligible for 50% rebates on that spending, up to a maximum of $3,000, according to details released by the White House.

More comprehensive retrofits would qualify for a $3,000 rebate for a whole home energy audit and subsequent retrofit aimed at annual energy savings of at least homeowners who achieve greater savings would come in for additional rebate amounts.

You can read more from The Wall Street Journal or watch the video live below from WhiteHouse.gov at 12:30PM EST today March 2, 2010.