Obama Cash For Caulkers Program
Recently, President Obama made a new program proposal that could help homeowners be greener and boost the economy, too. This "Cash for Caulkers" program would reimburse homeowners who purchased insulation, energy efficient appliances, and other green home improvements. It would encourage people to buy needed green additions to their homes, and help them save money in the long run.
Currently, we don't have details from the Obama administration. However, the administration has stated that it'll work with Congress to put together the legislation. According to officials assisting with the bill, homeowners could be eligible to recieve up to twelve thousand dollars worth of rebates, depending on the improvements they make.
Part of the overall economic stimulus package, the plan as it currently stands will also provide incentives and other support to small businesses, for infrastructure projects and support for companies in the renewable energy sector. These projects could lead to job creation, help reduce pollution and save money for homeowners and businesses across the country.
There are two main parts to the program. They include money for companies in the efficiency and renewable energy industry and money for homeowners embarking on efficiency projects. The plan will probably allow audits to be conducted by private contractors, who then purchase the appropriate items and install them. Coverage is likely to be available for washers, dryers, windows, insulation, heating and cooling and other important, but expensive, items.
The suggestion currently is for consumers to be eligible for a fifty percent rebate on both installation and purchase of equipment, up to a total of twelve thousand dollars. A household could spend up to twenty-four thousand in improvements, and expect to receive half back. For many, that will reduce the overall cost enough to encourage more improvements and larger purchases.
There are indirect benefits associated with the program as well. The improvements the Cash for Caulkers program covers can reduce the amount of homeowners' energy bills by as much as 20%.
How the program will be administered is one important detail which is as yet unknown. There have been proposals to provide rebates as tax credits, direct rebates or as determined by individual states. The cost of the program is currently projected to be in the neighborhood of ten billion; critics have stated that the program may become a target for fraud and that some homeowners may be unable to afford the projects which would entitle them to the program's rebates.
However, the general consensus is that this program could provide a significant amount of economic stimulus and help many homeowners to make their homes more energy efficient. While the exact shape of this legislation remains to be seen, it's something that any homeowner interested in making their homes greener will want to keep an eye on.
Currently, we don't have details from the Obama administration. However, the administration has stated that it'll work with Congress to put together the legislation. According to officials assisting with the bill, homeowners could be eligible to recieve up to twelve thousand dollars worth of rebates, depending on the improvements they make.
Part of the overall economic stimulus package, the plan as it currently stands will also provide incentives and other support to small businesses, for infrastructure projects and support for companies in the renewable energy sector. These projects could lead to job creation, help reduce pollution and save money for homeowners and businesses across the country.
There are two main parts to the program. They include money for companies in the efficiency and renewable energy industry and money for homeowners embarking on efficiency projects. The plan will probably allow audits to be conducted by private contractors, who then purchase the appropriate items and install them. Coverage is likely to be available for washers, dryers, windows, insulation, heating and cooling and other important, but expensive, items.
The suggestion currently is for consumers to be eligible for a fifty percent rebate on both installation and purchase of equipment, up to a total of twelve thousand dollars. A household could spend up to twenty-four thousand in improvements, and expect to receive half back. For many, that will reduce the overall cost enough to encourage more improvements and larger purchases.
There are indirect benefits associated with the program as well. The improvements the Cash for Caulkers program covers can reduce the amount of homeowners' energy bills by as much as 20%.
How the program will be administered is one important detail which is as yet unknown. There have been proposals to provide rebates as tax credits, direct rebates or as determined by individual states. The cost of the program is currently projected to be in the neighborhood of ten billion; critics have stated that the program may become a target for fraud and that some homeowners may be unable to afford the projects which would entitle them to the program's rebates.
However, the general consensus is that this program could provide a significant amount of economic stimulus and help many homeowners to make their homes more energy efficient. While the exact shape of this legislation remains to be seen, it's something that any homeowner interested in making their homes greener will want to keep an eye on.
About the Author:
About the author: Jerry Dyess has been specializing in the Texas Electricity market segment for the past 7 years. He has published many articles on Texas Electric prices.
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