Smart Energy

President Barack Obama today outlined the details of a new “Homestar” program that would help create jobs by encouraging American families to invest in energy saving home improvements. The President spoke of the new program while touring a training facility at Savannah Technical College.

Consumers in the program are estimated to save between $200 – $500 per year in energy costs, while improving the comfort and value of their homes.

Key elements of the program include:

Homestar Plan Would Pay for Home Energy Efficiency Retrofits

Home in Boulder, Colorado retrofitted with solar panels (Photo by EcoFutures Building)

• Rebates delivered directly to consumers: Like the Cash for Clunkers program, consumers would be eligible for direct Homestar rebates at the point of sale for a variety of energy-saving investments in their homes. Vendors including small independent building material dealers, large national home improvement chains, energy efficiency installation professionals and utility energy efficiency programs would market the rebates, provide them directly to consumers and then be reimbursed by the federal government.
• $1,000 – $1,500 Silver Star Rebates: Consumers looking to have simple upgrades performed in their homes would be eligible for 50 percent rebates up to $1,000 – $1,500 for doing any of a straightforward set of upgrades, including: insulation, duct sealing, water heaters, HVAC units, windows, roofing and doors. Under Silver Star, consumers can chose a combination of upgrades for rebates up to a maximum of $3,000 per home. Rebates would be limited to the most energy efficient categories of upgrades, focusing on products made primarily in the United States and installed by certified contractors.
• $3000 Gold Star Rebates: Consumers interested in more comprehensive energy retrofits would be eligible for a $3,000 rebate for a whole home energy audit and subsequent retrofit tailored to achieve a 20 percent energy savings. Consumers could receive additional rebate amounts for energy savings in excess of 20 percent. Gold Star would build on existing whole home retrofit programs, such as EPA’s Home Performance with Energy Star program.
• Oversight to Ensure Quality Installations: The program would require that contractors be certified to perform efficiency installations. Independent quality assurance providers would conduct field audits after work is completed to ensure proper installation so consumers receive energy savings from their upgrades. States would oversee the implementation of quality assurance.
• Support for financing: The program would include support to state and local governments to provide financing options for consumers, helping to ensure that consumers can afford to make these investments.

via Obama’s Homestar Plan Would Pay for Home Energy Efficiency Retrofits.

A new report from McGraw-Hill Construction says that the by-value retrofit-renovation market share for green building will grow to 20-30 percent by 2014. The report synopsis on Environmental Leader says that the current value of the retrofit-renovation market is between $2 and $4 billion and that that should grow to to $10-$15 billion in the next five years. Here’s a couple of snips with details:

The report also reveals that owners and tenants with green retrofit experience are likely to do more green retrofit projects. Seventy percent of owners who have engaged in green retrofit or renovation activities are planning to continue to do so for over 15 percent of future projects and 24 percent will do so on over 60 percent of projects, according to the report.

Another finding shows that the downturn is encouraging the adoption of energy- and water-efficient practices in renovation projects. Sixty-two percent of owners expect to recoup their investments for energy-efficiency improvements within 10 years.

The complete report is $189 and is available here.