Proposed Bill Could Save Homeowners Money on Energy Efficient Upgrades

CNNMoney.com reports that President Obama’s latest proposal to reimburse homeowners for installing and using “energy efficient” insulation and appliances could have wide reaching effects and would make strides towards accomplishing 3 of the President’s Goals. Those goals being to make the nation more energy efficient, create jobs within this new industry and stimulate the economy by encouraging consumer activity. The proposal is part of a larger bill bill which includes money for renewable energy manufacturing and infrastructure as well as small businesses.

The incentives for homeowners would be two-fold, first by making approved energy efficient upgrades, the homeowner could be reimbursed by as much as 50% on the price of the upgrades as well as any installation costs, in the form of a rebate. Secondly, depending on which upgrades the homeowner chooses to complete, a homeowner could see his/her energy bill drop by as much as 20%. Director of the American Council for an Energy Efficient Economy, Steve Nadel, advises that a homeowner could receive up to $12,000 in rebates under this program.

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