Thursday, December 10, 2009

Cash for Caulking

Obama Proposes Cash for Caulking

A program has been proposed by President Obama on Tuesday that would reimburse home owners for installing windows, energy-efficient appliances, and insulation.

Under what has been dubbed “Cash for Caulking”, home owners would get a 50 percent rebate on energy-efficient air conditioners, heating systems, washing machines and dryers, refrigerators, replacement windows, insulation and other energy-saving improvements up to $12,000. This equates to a household that spends $24,000 could get $12,000 back.Most likely there would be no income restrictions.

The director at the American Council for an Energy-Efficient Economy, Steve Nadel, who is helping to create the legislation, says they are considering having contractors and/or retailers pay part of the cost upfront to reduce the need for home owners to come up with lots of cash.

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