Plan calls for improving home energy
WASHINGTON – Nov. 9, 2010 – U.S. homeowners will be able to get low-cost energy audits that rank a home’s efficiency on a scale of one to 10 and get federally insured loans for upgrades, under an Obama administration plan to be announced today.
With the new Home Energy Score, consumers will find out how their home compares with others and how much money they could save by adding insulation, sealing air leaks or doing other upgrades. Nine U.S. communities will test the score, similar to a miles-per-gallon label for cars, before it’s rolled out nationally next summer.
“Together, these programs will grow the home retrofit industry and help middle-class families save money and energy,” says Vice President Biden, who plans to unveil the initiative at a meeting of his Middle Class Task Force.
“This is the kind of program that could go viral,” says Jared Bernstein, executive director of the task force, noting there are tens of millions of old U.S. homes. He says it will take time, however, to get it going.
U.S. officials expect that the audits, to be done by trained contractors, will cost less than half of current private ones, which often exceed $350, because of their streamlined approach.
Consumers will be able to seek up to $25,000 in federally insured, PowerSaver loans at or below market rates. Financing will start early next year as part of a two-year pilot program.
John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: holbrook66@msn.com Web: www.nassaumls.newww.johnholbrook.blogspot.com
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