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.
This proposal is part of the larger spending program suggested by the President. Other spending includes offering money to small businesses, to the renewable energy sector, and to help support and expand infrastructure. These areas are being supported because of the great role that energy efficiency and infrastructure play in our lives. More efficient policies create jobs, help families save money, and reduce pollution and waste.
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.
Homeowners who take full advantage of this proposed program will benefit in other ways, too. Energy bills could drop up to twenty percent due to greater efficiency and lower levels of waste produced by newer appliances. This could be a real help for homeowners in the long run, as long as the program is well planned.
Currently, it's not clear how this plan will be administered. Tax credits, direct rebates, or state agencies are all options. The current projected cost for the program is in the ten billion dollar range. Critics note that people who have to spend a lot up front to receive the rebate may be reluctant to participate, and that fraud may be an issue.
If well planned and well administered, this program could be a big economic boost and a great encouragement for people to go green. It all depends on how the final legislation comes out. If you're considering improving your home and making it a little greener, be sure to keep an eye on this interesting program. It could be a real help in your efforts to green your lifestyle.