Horray for “green” government!  Change is certainly happening in positive directions. Whether liberal or conservative in your economic principals, it’s important to know the details of this historical plan. In light of the “government stimulus” directing nearly $50 billion towards energy efficiency and environmental protection, I started to look deeper into where this money will go and how it may help our homes and homeowners.

Ideally the “energy stimulus” will create millions of new jobs and begin to pay for itself as going green makes the economy green. However, much of the green building and modernization aspects of the plan apply to low-income and federal buildings, and according to data from the Energy Information Administration, the public building sector accounts for only 7% of total U.S. building stock, while the private building sector accounts for 93% of total U.S. building stock… having the greater impact on our economy.

Well, what is certain is we all look forward to any positive impact provided by the government stimulus and the much needed energy-reduction targets set by the administration… and that the IRS will be very busy assessing all these tax credits! Westside Green Homes found the following stimulus allocations relevant to the topic…

$6.6 billion Incentive for first-time homebuyers providing a refundable tax credit of up to $8,000

$5 billion to weatherize more than 1 million homes owned by “modest-income” families. This amount could weatherize 1 million homes, saving families an average of $350 annually, and directly and indirectly create 375,000 jobs. (Every investment of $1 billion in clean energy programs creates nearly 5,000 more jobs than traditional infrastructure spending).

$2 billion to Increase tax credits for residential energy efficiency improvements/ purchases to make homes energy efficient, such as new furnaces or insulation, to 30 percent through 2010, for up to $1,500.

$300 million for consumer rebates for energy-efficient appliances.

$268 million to remove caps on a 30 percent residential credit for solar, wind, and geothermal.

$2 billion to increase the tax credit for hybrid cars to $7,500.

$11 billion to modernize the electric grid so electricity can be distributed and used more efficiently.

$6.3 billion to provide grants to cities, counties and states to increase energy efficiency.

$4.5 billion to increase the energy efficiency of federal buildings.

$1.4 billion for bonds to carry out state and local renewable energy and conservation projects.

$500 million to train workers for careers in energy efficiency and renewable energy.

$10’s of billions toward energy efficiency and modernization of low-income housing, federally assisted and government subsidized housing, as well as Native American housing, and foreclosures in military service communities.

The American Recovery & Reinvestment Act is an unprecedented measure and thankfully our new President, Barack Obama, made green initiatives a priority!  Now it’s time to take part and ask for the benefits to come your way by weatherizing your home, making energy improvements, or purchasing efficient appliances, solar panels, hybrid cars, etc… As well as cross your fingers and keep faith.

Be well, be green ~ Karen Nation