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  1. #1
    Atomic Punk
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    12.11.17 @ 04:37 PM
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    Default Homeowners may get up to $12,000 in rebates under a new stimulus plan.

    President Obama proposed a new program Tuesday that would reimburse homeowners for energy-efficient appliances and insulation, part of a broader plan to stimulate the economy.

    The administration didn't provide immediate details, but said it would work with Congress on crafting legislation. Steve Nadel, director at the American Council for an Energy-Efficient Economy, who's helping write the bill, said a homeowner could receive up to $12,000 in rebates.

    The proposal is part of the President's larger spending plan, which also includes money for small businesses, renewable energy manufacturing, and infrastructure.

    We know energy efficiency "creates jobs, saves money for families, and reduces the pollution that threatens our environment," Obama said. "With additional resources, in areas like advanced manufacturing of wind turbines and solar panels, for instance, we can help turn good ideas into good private-sector jobs."

    The program contains two parts: money for homeowners for efficiency projects, and money for companies in the renewable energy and efficiency space.

    The plan will likely create a new program where private contractors conduct home energy audits, buy the necessary gear and install it, according to a staffer on the Senate Energy Committee and Nadel at the American Council for an Energy-Efficient Economy.

    Big-ticket items like air conditioners, heating systems, washing machines, refrigerators, windows and insulation would likely be covered, Nadel said.

    Consumers might be eligible for a 50% rebate on both the price of the equipment and the installation, up to $12,000, said Nadel. So far, there is no income restriction on who is eligible. That would mean a household could spend as much as $24,000 on upgrades and get half back.

    Homes that take full advantage of the program could see their energy bills drop as much as 20%, he said. The program is expected to cost in the $10 billion range.

    It's not clear how the home efficiency plan would be administered - the government may issue rebates to consumers directly, homeowners might get a tax credit, or the program could be run via state agencies.

    If consumers have to spend a lot of money up front to get the credit, it could throw a wrench in the works, David Kreutzer, an energy analyst at the Heritage Foundation, told CNN.

    "This will not be something that's attractive to people who are having trouble already making their budget payments month to month or week to week," he said.

    To keep consumers from having to spend thousands of dollars before getting reimbursed, Nadel said, one idea is to have contractors or big box retailers pay part of the cost up front.

    Fraud issues could also come up, Kreutzer said.

    "Any program that is going to run through a third party and is going to distribute billions of dollars needs to have lots of checks and balances to make sure there's not abuse," he said.

    Nadel noted that as a way to guard against fraud, contractors would have to be certified to participate.

    Energy company boost

    Obama's new spending plan also calls for renewable energy companies to get additional support. That could come in the form of loan guarantees - basically, money the government uses to secure loans for startups.

    In the original stimulus bill passed earlier this year, $6 billion was earmarked for such loan guarantees. But then lawmakers took away $2 billion to fund Cash for Clunkers - the popular program that paid people to turn in their old cars.

    The $4 billion from the original bill has funded about $40 billion in loans, said the staffer on the Senate Energy Committee. Meanwhile, firms are hoping for another $4 billion in loan guarantees, since they have another $40 billion worth of projects that need funding.

    A bill on energy efficiency reimbursements already has supporters in the Senate.

    "Not only will [such legislation] increase our energy security and transform our energy infrastructure to a modern, clean and efficient one," Senate Energy Committee Chairman Jeff Bingaman, D-N.M., wrote in a recent op-ed column in the Hill, a Capitol Hill newspaper. "But it also will position the United States to lead in the development of clean energy technologies."
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. #2
    Don't Touch the Dog There axebrian's Avatar
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    I just bought a 10K roof with insulation from hell...can I get any rebate?
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    February 10, 1978...The day that changed the Rock N Roll guitar world!!!

  3. #3
    Baluchitherium
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    12.06.17 @ 01:26 PM
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    Quote Originally Posted by axebrian View Post
    I just bought a 10K roof with insulation from hell...can I get any rebate?
    You should buy American.
    Posted from yo' mama's house.


  4. #4
    Baluchitherium loveevhsince79's Avatar
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    10.23.15 @ 04:49 PM
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    I had to buy a new washer/dryer a few months ago so I'll probably miss out on this money too.
    Life may not be the party we hoped for, but while we are here we might as well dance.

    Live simply. Love generously. Care deeply. Speak kindly.

  5. #5
    5150 DoHalen5150's Avatar
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    10.08.15 @ 11:37 AM
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    Quote Originally Posted by loveevhsince79 View Post
    I had to buy a new washer/dryer a few months ago so I'll probably miss out on this money too.
    well if you bought an energystar rated washer/dryer, you'll see the saving in gas/electric/water bills.
    Money can't buy you happiness, but it can buy you a yacht big enough to pull up right alongside it. DLR

  6. #6
    Good Enough
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    12.10.17 @ 12:26 PM
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    There's always a chance they'll include eligible purchases made in tax year 2009. In other words, they may back date it. That is if this rebate is in the form of a tax credit. Still, this is good news if it comes to fruition. You can always replace that older, less efficient furnace or perhaps install some new low E windows, Air Conditioner, low water energy efficient washing machine/dryer, etc.
    "People say Cream gave birth to Heavy Metal," says Baker. "If that's so, we should have had an abortion."

  7. #7
    Baluchitherium loveevhsince79's Avatar
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    Quote Originally Posted by DoHalen5150 View Post
    well if you bought an energystar rated washer/dryer, you'll see the saving in gas/electric/water bills.
    You're right but it seems like all the money for new homes, new cars, new appliances, saving businesses, savings banks isn't anything that my family can take advantage of, it's only programs that I will eventually get to pay for with my taxes.
    Life may not be the party we hoped for, but while we are here we might as well dance.

    Live simply. Love generously. Care deeply. Speak kindly.

  8. #8
    Good Enough pal1800's Avatar
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    06.02.16 @ 09:13 AM
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    Great, keep printing money to give to people so the value of our dollar coutinues to go down. Thats gonna be great for our future, our kids will thanks us.

  9. #9
    Hang 'Em High jetguy5150's Avatar
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    12.11.17 @ 10:52 AM
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    Quote Originally Posted by VegasVic View Post
    You should buy American.
    That's gold Jerry, Gold!!!
    Signature not currently available. You aren't missing much.

 

 

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