Today the President’s Economic Recovery Advisory Board voted to endorse the new Home Star Retrofits Program.
This is a very promising program and we’re psyched to see the great leaders in the President’s Economic Recovery Advisory Board (PERAB) leading the way! Below are some excerpts from the memorandum today. Also PERAB has a new site up.
According to the Memorandum:
Our proposed plan is called HOME STAR, and it is designed to jumpstart an industry of over 1 million workers retrofitting 100 million US homes and reducing U.S. carbon footprint by 5% by 2030. It is inspired by Silicon Valley entrepreneurs and modeled on proven programs across the country. This approach has been vetted by environmental groups, labor, and industry, and will bring national focus and funding to reinvigorate the American construction industry, create good jobs and reduce energy demand.
The program has a Silver Star track and a Gold Star track. The Gold Star track is:
a performance-based incentive that rewards actual, audited energy savings. It starts with an energy assessment prior to work that includes energy modeling to predict savings using accredited, specially trained contractors. After the work is complete, it undergoes third party quality assurance audits. Any combination of retrofit measures that results in 20% reduction would be eligible for $3,500 in incentives, with each additional 5% reduction achieving another $1,500 in incentive.
HOMESTAR should be implemented immediately in 2010 and phased into climate legislation which comes online late 2011 and 2012. HOME STAR is meant to dove-tail with climate legislation, ongoing administration efforts and to fit into ongoing funding sources based on revenues captured in future climate markets, which can then be fed back to help make reducing energy use even more affordable. It builds on efforts already underway in the government and private sectors.
Thanks to Jared at EfficiencyFirst.org for sending mail on this so quickly today!