About a month ago we did a short post about the proposed Cash for Caulkers program by President Obama. Today we have a couple updates on the program.
- The Cash for Caulkers bill is formally called the Home Star program, which is part of the short term jobs bill to create new greener jobs and provide incentives for homeowners/contractors to perform work which will improve home energy efficiency.
- This bill is still pending (must be passed by Congress and signed by the President), but in its present form, it would create $18 billion in homeowner incentives, $4 billion in retailer incentives and $2 billion for home energy audits.
- Building efficiency advocacy groups anticipates the bill could become law within “several weeks”.
- Martin LaMonica/CNET speculates there will be two levels for the Home Star program:
Silver Level will allow homeowners to receive a $2,000 tax credit for taking on two approved home improvement projects and work with contractors that meet certain "basic standards"
Gold Level involves having a building's energy "performance" rated by contractors accredited by the Building Performance Institute to be eligible to receive up to $4,000 in tax credits
*Note: we’ve seen estimates up to $12,000 in tax credits, these amounts are purely speculative at this point
We’ll post updates as we have them. It’s a great time to start thinking about your home’s energy efficiency – Hohm can help you identify potential projects today so you’re ready for the final Home Star approval.