Today, Congressman Sires joined his colleagues in the House of Representatives by passing H.R. 5019, the Home Star Energy Retrofit Act of 2010, by a vote of 246 to 161 to provide immediate incentives for consumers who renovate their homes to become more energy efficient, rapidly creating jobs here at home, while saving money for American families.
"The easiest way for Americans to save money on their monthly bills is to invest in energy efficient improvements to their own homes and this legislation would assist consumers in accomplishing this goal. In all, it would help save about 3 million American families an estimated $200-500 per year on their energy bills, totaling $9 billion over the next 10 years, by aiding them in the cost of retrofitting their homes," expressed Congressman Sires.
Specifically, Home Star would spur home energy renovation with two types of consumer incentive programs: Silver Star and Gold Star. The Silver Star program would provide rebates for specific energy-saving investments, including insulation, duct sealing, windows and doors, air sealing and water heaters at the time of sale. Homeowners would receive up to $1,500 per improvement, with a rebate of up to $3,000 or 50 percent of the total project cost. Through the Gold Star program, homeowners who conduct a comprehensive energy audit and implement measures to reduce energy use would be rewarded $3,000 for a demonstrated savings of 20 percent, plus an additional $1,000 for each additional 5 percent energy savings up to $8,000.
"The investments this bill makes to assist homeowners to retrofit their homes will help grown our economy by creating jobs in construction, manufacturing, and retail- industries that have been devastated by the recession. These are jobs that will be produced in our communities and products that will be manufactured in the USA," stated Congressman Sires.