Huge News! Vice Pres. Biden Presents the:Recovery through Retrofit ProgramThis proposed national program represents the most profound change in energy efficiency retrofits in our nation's history. They are proposing a several-pronged approach that precisely matches something that I have been trying to have done on a local level:
The last item is critical. They are proposing to attach the loan to the property taxes of the home. In this way, the loan would be payed off over a long period, maybe 15 years. If the house is sold, the purchaser takes on those additional payments. What makes this so appealing is that the reduced utility bills should more than offset the additional tax payments, so that consumers would get more comfortable and efficient homes essentially without spending any money. In the process, many, many homes could be retrofitted and the entire nation reduces its energy usage and greenhouse gas emissions. Keep in mind that this is just the beginning of the proposed plan. It will take some time to implement these changes (years?) However, this is a truly fundamental change in energy efficiency retrofits for our nation. For all the details, see: PDF document Other media:Whitehouse.gov - Official press release White house blog - Official blog entry Recovery through Retrofit - The complete proposal documentPACE Policy Framework - Document describing the financing proposal |