Home owners, get energy upgrades done for your homes and be paid for doing it by the federal government. Well, this is what you will get with the passage of the Home Star Energy Bill. Otherwise known as the cash for caulkers, this bill will provide rebates for those home owners who get energy upgrades done for their homes.
Speaking soon after the bill was passed by the House; President Obama termed it as a ‘common sense’ bill which will help create jobs and save money for the home owners and also help in reviving the economy.
The voting on the bill went through in the House according to expected party lines. The bill was passed with a majority of 246 to 161. What this vote does is, it authorizes the President to implement the program in principle but as of now has not allocated any funds for it. The wise old men of the House would be meeting once again during the summer and discuss ways and means to fund the Home Star Energy Bill.
This bill affects three major stake holders. Namely: the ordinary American home owners, the building construction industry, the nascent energy industry and the skilled workforce.
For the ordinary home owners, this bill provides rebates at two levels for undertaking home energy upgrades. In the first level, you will get rebates to the tune of three thousand dollars for making home improvements. You will now get rebates for replacing your doors, windows, upgrading the heating and cooling systems, take new insulation measures to block energy leakages. For example, on purchase of insulation and air sealing products, you can now claim a rebate of two hundred and fifty dollars.
The Home Star Energy Bill offers very good rebates for those American home owners who get a comprehensive home audit done and work towards saving at least 20% on energy costs. For such home owners, the bill will allow for a rebate of up to eight thousand dollars. If you are able to save more than 20% on energy costs, you become eligible for more rebates under the provisions of this bill. This means, more the energy you save, the more rebates you get.
According to some experts, there are more than five million American homes that are in need of energy upgrades. This means that there is a huge opportunity for the building and construction professionals to cash in on. With the passage of the Home Star Energy Program bill, the President has created a potential for the building material manufacturers, retailers, professionals to aggressively market their products and services. This in turn will create more job opportunities both in the energy sector as well as the construction industry.
Speaking after the bill was passed by the House, President Barack Obama said that there were skilled American workers out there who were ready to take up new installation works and retrofit works. He also said that the factories were ready to manufacture new energy efficient products.