To honor Earth Day this year we have developed a three-part series to help you improve the energy efficiency of your furnished rental units. Remember, every little bit counts towards creating a better planet for us all.
The Obama administration is currently urging Congress to pass a program that will provide rebates of up to 50 percent for homeowners who complete energy-efficient home improvements. The proposed Homestar incentive program, nicknamed “Cash for Caulkers,” is similar to the recent Cash for Clunkers program that rewarded Americans for buying energy efficient automobiles.
The Homestar program has a proposed budget of $6 billion. Up to $1,500 will be available per residence to offset the cost of labor and materials for home improvements that are aimed at increasing energy efficiency. Another $3,500 will be available for homeowners who substantially reduce their energy usage by installing insulation.
Besides cash rebates, an additional benefit of the Homestar program is that the improvements you make to your rental property could bring savings of up to $500 per year in energy costs.