| Define Cash for Caulkers Program: Retrofitting American homes for energy efficiency Many Americans want to save money on their energy bills. There are many ways to do so.
The White House is writing a proposal for an energy efficiency program previously known as Homestar nicknamed "Cash for Caulkers". The Cash for Caulkers program name is obviously derived from the popular "Cash for Clunkers" program. Cash for Caulkers provides two types of incentives for homeowners.
"Silver Star Incentive" is the first type of Cash for Caulkers incentive. The Silver Star Rebate helps with the purchase of energy efficiency products and services. Silver Star Incentives are for retrofitting energy efficient appliances such as dishwashers and refrigerators, as well as, insulation, windows, and roof installation.
"Gold Star Incentive" is the second type of Cash for Caulkers incentive. The Gold Star Rebate rewards homeowners that reduce their home's energy usage by 20% to qualify for up to $3,500 in rebates. For every 5% in home energy reduction in excess of 20% earns another $1,500 in Cash for Caulkers rebates.
The Cash for Caulkers program provides up to 50% of the total cost of energy efficient products and services. Every homeowner is eligible for up to $12,000 each with no income restrictions. A jointly owned residence may be eligible for $24,000 in energy efficiency rebates.
The "Cash for Caulkers" program is expected to be funded with $10 billion. Rich Hessler, Principal
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