Designed to drive energy efficiency and to spur job growth and the economy, President Obama announced the
HomeStar program yesterday. The idea is to subsidize efforts to make home improvements such as weather proofing, adding insulation, upgrading to new windows, improving heating systems, and the like. The logic is that such improvements typically rely on local contractors and suppliers that are based in the United States, thus driving domestic job growth in industries that are currently suffering from higher than average (22% cited) unemployment. Also, the increases in efficiency are seen as a motion towards lowering dependance on foreign oil and saving households on energy costs over time.
Details:
- Direct rebates for energy-saving investments
- 50 percent rebates for the cost of each upgrade up to $1500
- Rebates up to $3000 for those who choose to retrofit their whole homes
- Guaranteed quality installations through quality assurance providers who would conduct field audits after work is completed
- Support for financing through State and local governments
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