"Cash for Caulkers" could bring more jobs to the industry

President Obama released more details about his Cash for Caulkers program, called HOMESTAR, that he hopes will soon become law.

The program will use rebates direct to consumers to help with the purchase of energy-saving investments for the home such as insulation, duct sealing, water heaters, HVAC units, windows, roofing and doors. Under the Silver Star Rebate, consumers can choose a combination of upgrades for rebates up to $3000 per home. The Gold Star Rebate program would be for homeowners interested in a whole home energy audit and retrofits that would achieve a 20% energy savings. The program will call for using products primarily made in the US and will require installation by certified contractors. Field audits by independent quality assurance providers would ensure that the installation was done properly.

The administration says that the program will create “tens of thousands of jobs,” save consumers between $200 and $500 each year in energy costs, and reduce energy use equivalent to three coal-fired power plants each year.

It’s estimated that the program would cost about $6 billion and would see participation by about 3 million households.

Of course, the details are still being worked out and Congress has not signed the bill into law although a similar proposal has been included in the Senate Democrats’ Jobs Agenda.

For more information, see the White House’s press release about the program.