Presidential Advisory Board Endorses Retrofit Incentive
Federal ‘Cash for Caulkers’ program would stimulate massive job creation in construction and related industries
Recognizing the urgent need to put millions of unemployed Americans back to work, the President’s Economic Recovery Advisory Board (PERAB) today voted to support a federal program that would leverage government incentives and private investment to stimulate a massive increase in home energy retrofits nationwide.
The proposed HOME STAR program – popularly known as “Cash for Caulkers” – has the potential to jump-start the Home Performance industry from the current rate of about 250,000 home retrofits per year to 5.5 million retrofits in the next two years. This rapid growth in consumer demand would create hundreds of thousands of new jobs in construction and related manufacturing sectors.
A memo published today on the White House Web site lays out the details of the HOME STAR program, which would provide direct incentives for homeowners who invest in weatherization and other cost-effective energy efficiency measures. The PERAB memo also calls for strong industry standards governing workforce development and quality assurance, and low-cost consumer financing mechanisms to “help reduce barriers to entry by enabling virtually every HOME STAR project to be cash-flow positive from month one.”
Efficiency First has been deeply involved at the highest levels in developing this innovative program, giving policymakers a boots-on-the-ground perspective based on real-life experience in the field to ensure that HOME STAR will be a highly productive use of public resources. The performance-based incentive structure Efficiency First has promoted rewards measurable reductions in household energy waste, and delivers a practical and cost-effective strategy for creating good long-term jobs while reducing energy bills for American homeowners.
Download the PERAB’s HOME STAR memorandum here:
www.whitehouse.gov/sites/default/files/microsites/091204-PERAB-Home-Retrofits-Memo-Final.pdf
Read more about HOME STAR on the Efficiency First Web site:
www.efficiencyfirst.org/home-star
Copyright © 2009 Efficiency First ·
Powered by
As an EcoBroker certified real estate agent, I see a key opportunity for retrofit when a home closes. The buyer has a long-term outlook and wants to do the work the right way. Likewise, they have more opportunity to see full return on their investment. I’m always looking for ways to make it as easy as possible for the consumer to do this. I think HOME STAR will be a great resource for home buyers. In the meantime, between now and April 30th, the home buyer tax credit expansion creates an interim resource. Please read the blog post for my local Realtor board, “Psst…How to Turn that $6500 into $8000″. It explains why buyers should make a retrofit the first improvement for their new home…and why it will love you back far more than a new couch every could! http://www.mainstreetrealestatefacts.com/mainstreet_realtor/2009/11/pssthow-to-turn-that-6500-into-8000.html