Obama to announce details of 'cash for caulkers' program during visit to Savannah
By Michael A. Fletcher
President Obama is expected to unveil details of a planned home retrofitting program Tuesday that will offer government rebates for homeowners who install new windows, doors, insulation and other materials to make their homes more energy efficient.
Senior administration officials said Obama would outline the program, which is still being negotiated with members of Congress, during a visit to Savannah, Ga. The program is designed to give a quick jolt to job creation, particularly in the hard-hit construction sector, by offering rebates of up to $3,000 for those who do energy-saving home renovations.
The program, dubbed Home Star, is based on the popular "Cash for Clunkers" program that last year gave a boost to auto sales by offering rebates for the purchase of energy-efficient cars. Administration officials eager to create job creation programs see the initiative as a "triple win" that would allow homeowners to save money on energy and stoke the creation of construction and manufacturing jobs, while reducing the nation's dependence on oil and other fossil fuels.
The program is expected to cost about $6 billion, which would provide cash incentives for as many as 3 million homeowners to do energy-saving renovations. Officials said the rebates would be offered directly by home renovation stores and contractors. They would in turn be reimbursed by the government for the amount of the rebates.
Obama is expected to make the announcement at Savannah Technical College, where he is also slated to visit a training center where students learn how to install insulation, solar panels and high efficiency ventilation systems.
Michael A. Fletcher
March 2, 2010; 6:00 AM ET
Categories: 44 The Obama Presidency
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