Cash For Caulkers – $ 9.2 Billion In Energy Savings, 168,000 Jobs

Homeowners are being offered rebates from $ 3,000 to $ 8,000 for energy-efficient improvements to their homes because of Cash for Caulkers, also known as the Home Star bill. The Cash for Caulkers 2010 bill, which was passed on Thursday, will dole out $ 5.7 billion over two years for a program aimed to stimulate the construction industry, which has been severely gutted by the recession. Republicans were nearly united in being against the Cash for Caulkers bill which needs Senate approval still before Obama can sign it.

Cash for Caulkers details

Homeowners won’t need a loan for thousands of dollars in energy saving home improvements with Cash for Caulkers 2010. The name of the bill is word-play inspired by the 2009 Cash for Clunkers bill that encouraged car buyers to get rid of their gas hogs. CBS News reports that Cash for Caulkers details include two programs: The Silver Star program provides upfront rebates of up to $ 3,000 for specific energy-efficient improvements in homes, such as installing energy-efficient appliances or duct sealing, insulation or new windows or doors. A Gold Star program would entitle people to up to $ 8,000 when they conduct comprehensive energy audits and implement measures that reduce energy use throughout their homes by more than 20 percent.

Cash for Caulkers rules

To prevent fraud, Cash for Caulkers rules require licensing for all participating contractors and a certain percentage of projects will be inspected. There are upfront rebates for some renovations in the Silver Star program. The credit can be used for up to $ 1500 per improvement and is capped at $ 3,000 or at least fifty percent of the total cost. Following an energy audit, the Gold Star program can provide $ 3,000 for energy savings of 20 percent, with an additional $ 1,000 for every additional 5 percent energy savings. This will be capped at $ 8,000 or fifty percent of the project.

Home energy audit for Cash for Caulkers

Found on the web will be Cash for Caulkers details and requirements for the Gold Star home energy program. A home energy auditor can help home owners assess how much energy their homes use and evaluate what measures will improve efficiency. Five minutes and the your last 12 months of utility bills are all it takes for a do-it-yourself home energy audit using energystar.gov. More energy savings will be delivered by a professional home energy auditor. A professional home energy auditor uses a whole bunch of different equipment such as blower doors, which measure the rate heating or cooling escapes the home, and infrared cameras, which reveal hard-to-detect areas of air infiltration and missing insulation.

Cash for Caulkers economic impact

Cash for Caulkers moves to the Senate now that it has passed in the house. CBS News reports that the Senate will likely attach Cash for Caulkers to the next jobs bill. Those who support Cash for Caulkers argue that 168,000 jobs could be created. They also estimate that 3 million households could take advantage of its programs, which would end up saving $ 9.2 billion in home energy costs over 10-years. 168,000 jobs will be created. The Cash for Caulkers bill would approve at least $ 600 million over two years for grants to states for replacing their mobile homes with more energy efficient models.

Article Sources

CBS News reports

http://www.cbsnews.com/stories/2010/05/06/politics/main6467175.shtml

energy audit

http://www.energysavers.gov/your_home/energy_audits/index.cfm/mytopic=11160

energystar.gov

http://www.energystar.gov/index.cfm?c=home_improvement.hm_improvement_audits