Infrastructure plans will fall short if we don't tackle home-energy use
Retrofitting homes is a key tenet of President Biden's $2 trillion American Jobs Plan. The proposal he unveiled in April sets aside $213 billion to upgrade homes for affordability and energy efficiency, and deservedly so: Ushering in a carbon-free future will fall short if we don't tackle home-energy use, which accounts for one-fifth of total emissions in the U.S.
Now, Congress is getting into the act: In May, it re-introduced the Hope for Homes Act. First put forward last summer, the legislation provides financial support for companies and homeowners looking to install modern energy upgrades to America's aging housing stock. If passed, Hope for Homes would unlock almost $9 billion in incentives and training for a variety of home energy retrofits, including replacing old HVAC systems with new, more efficient equipment like heat pumps.
While Hope for Homes would represent an unprecedented investment in home decarbonization, the devil is in the details, specifically when it comes to how the money is spent. In order to learn the lessons of the past, Hope for Homes must ensure that the incentives are accessible to many trade allies (not just the installing contractor), given out based on energy savings performance, and are flexible. These incentives must be investments in market development, to businesses that will continue to grow the home energy retrofit market, even after the money runs out. Hope for Homes can succeed, but only if the program is truly aligned with the market.
https://www.msn.com/en-us/money/careers/infrastructure-plans-will-fall-short-if-we-dont-tackle-home-energy-use/ar-AAMVnoz