Continuing with Bob’s thinking about the lean and green, President Obama this morning added more details to a plan some are calling ‘cash for caulkers.’  Speaking at a Home Depot in Virginia, he began describing how insulation is sexy. He broke it down like this: better insulation means increased energy efficiency, which means dollar savings. In a move similar to the incentives for automobiles put out last summer, this new program would encourage consumer spending on home retrofits.

With increased spending several players would benefit. The hardware stores would see increased sales, which would lead to increased requests for product from the manufacturer. Local contractors and construction workers would see a boost in hiring to actually put these retrofits into place.  A welcome change to their industry as unemployment hit 19.4% in November, according to the Bureau of Labor Statistics. Last but not least, the consumer would save money each and every year off of their utility bill. No more leaky windows and attics to drain precious hot and cold air from the living space.  Just a well-insulated home providing comfort all year long.

It remains to be seen however the extent of the rebates and just how homeowners can cash in. I for one am glad to see such a program being put into place. There needs to be an incentive for people to retrofit their home, especially those living in a dwelling over fifty years old. These particular residences are among the most inefficient and could benefit greatly from at least a home energy audit. How do you feel about the program? Were you thinking of making improvements but held back due to the cost?