Green Energy Wins Big in Stimulus Package – Rebates for hybrid cars, tax credits for solar & wind, weatherization and more
President Obama’s record-breaking, historic stimulus package, contains big bucks in the form of subsidies for green energy. Some of which may directly save you money.
Here is an abbreviated summary of the numerous energy-related provisions:
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$2 billion to increase the tax credit for hybrid cars to $7,500
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$300 million for consumer rebates for energy-efficient appliances
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$268 million to remove caps on a 30 percent residential credit for solar, wind, and geothermal installation
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$6.3 billion for energy efficiency in multifamily housing getting federal assistance, such as HUD-sponsored low-income housing
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$5 billion to weatherize more than 1 million homes owned by “modest-income” families.
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$4.5 billion to increase the energy efficiency of federal buildings
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$4 billion to repair and modernize public housing units
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$1.4 billion for bonds to carry out state and local renewable energy and conservation projects
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$510 million to repair and modernize more than 4,000 Native American housing units
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$500 million to train workers for careers in energy efficiency and renewable energy
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$250 million to HUD to improve the efficiency of government-subsidized apartments
The New York Times released a detailed breakdown of the energy provisions here.
Interesting Facts About the $5 Billion Dedicated to Weatherization Assistance (from EcoBroker International)
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This amount could weatherize 1 million homes and, directly and indirectly, create 375,000 jobs.
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Low-income families will save an average of $350 annually from weatherization.
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Every investment of $1 billion in clean energy programs creates nearly 5,000 more jobs than traditional infrastructure spending.
blog by elephant’s realtor – Liz Benson
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Liz Benson is a Realtor/EcoBroker with Colorado Landmark Realtors based in Boulder, CO. She is also Mom to a lovely teenage daughter and an energetic border collie. When not juggling those duties, she enjoys travel, riding her vintage cruiser and DIY home improvements.
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I think these plans for green energy are great.. I believe Obama knows what he's doing, and I hope his judgment for these plans are correct… It's a lot of financial risk but I think that if they're executed well, they may do wonders for the economy and the environment.
[...] open effort, to open up dialogue in this weighty, dangerous yet hope-filled era when we either go sustainable or we succumb to a selfish, short-term, limited and ironically ineffective vision of how happy and [...]
Obama doing a good job in saving America's economic crisis. He is always one step ahead. This will help us and the dying automakers of US.
I think it is fantastic how the stimulus funds are making a difference. They are being taken advantage of all the time with the installation of geothermal heat pumps to replace high energy heating and cooling systems.
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Well said, but we all need to acknowledge that adding Solar on their home is an purchase that will boost the long term worth of their house if / when they make a choice to sell. With the environment the way it is going we cannot overlook any product or service that presents free energy at no cost to both the shopper and more importantly the environment!