Cash For Caulkers Program Takes Shape, $12,000 Credit?

President Obama recently released a preliminary outline of the proposed “Cash for Caulkers” program which is designed to stimulate job growth while in turn retrofitting homes to be more energy efficient.

“I’m calling on Congress to consider a new program to provide incentives for consumers who retrofit their homes to become more energy-efficient, which we know creates jobs, saves money for families and reduces the pollution that threatens our environment,” Obama said at the Brookings Institution in Washington.

The program could allow for up to $12,000 in rebates to consumers.

Consumers might be eligible for a 50% rebate on both the price of the equipment and the installation, up to $12,000,  So far, there is no income restriction on who is eligible. That would mean a household could spend as much as $24,000 on upgrades and get half back.

More to follow…