While the Home Efficiency Plan has not been written yet, based on recent reports here is the information being floated to the public.  Remember the 1st Time Home Buyers credit began at $15,000 and ended up being $8,000.

Q: When does the Cash For Caulkers program go into effect?

A: Unknown.  The Obama administration will work with Congress to draft the legislation.  The proposal is part of a larger spending plan including other programs for small business, renewable energy manufacturing and infrastructure.

Q: What types of services and appliances will be covered in the Cash For Caulkers program?

A: Home energy audits. Installation and purchases of energy efficient appliances like air conditioners, heating systems, washing machines, refrigerators, windows and insulation.

Q: Who is eligible?

A: Everyone who owns a home.

Q: How much is available?

A: Consumers could be eligible for a 50% rebate on both the price of the equipment and the installation, up to $12,000.

We’ll keep you posted.

Cash For Caulkers

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…