Obama promotes home energy efficiency program

[Turborama]

Source: AP

President Barack Obama said Tuesday that home insulation "is sexy," his newest appeal for Congress to pass incentives for homeowners who make their homes more energy efficient. "Here's what's sexy about it. It saves money," the president said at a Northern Virginia Home Depot store. He was joined at the outlet by members of Congress representing Virginia and labor and business leaders involved in services to lower use of natural resources consumed by homeowners.

Calling insulation the in-thing, Obama's pitch was part of a broader administration push to lower the nation's 10 percent unemployment rate. And it marked the fourth time in less than two weeks that the president has presided over high-profile events that call attention to his efforts to curb joblessness.

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The administration is hoping to tap into money paid back by banks or not needed from last October's emergency $700 billion bailout program that pulled the country's financial system back from the precipice of meltdown.

The White House hopes the appeal of the retrofitting program — which some administration officials have dubbed Cash for Caulkers — will be similar to the now-expired Cash for Clunkers program, which offered rebates for trading in used vehicles for more fuel-efficient ones. At a White House jobs forum earlier in the month, Obama told Home Depot chairman Frank Blake that home improvement companies would be key partners in this program.

Read more: http://news.yahoo.com/s/ap/20091215/ap_on_bi_ge/us_obama_energy_efficiency

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Part 1 of his speech: http://www.youtube.com/watch?v=08hAcmS7Edc

Part 2 (with the "sexy" comments mentioned above): http://www.youtube.com/watch?v=vVfKq2N6McA

[superconnected]

1. I agree with that.

[bertman]

2. The problem with this approach is that it leaves out the millions of folks who cannot afford

the initial investment needed to get the tax break.

If they want to stimulate the economy and do the right thing for reducing our energy usage (and carbon footprint) they should be giving grants or low/no interest loans to homeowners so they could hire contractors to do this type of home improvement. That would be a huge and immediate kickstart for lots of jobs.

This is another "brainstorm" from some bureaucrat who's making six figures in a secure job.

[HiFructosePronSyrup]

4. Did you read the article? Listen to the speech?

The administration is hoping to tap into money paid back by banks or not needed from last October's emergency $700 billion bailout program that pulled the country's financial system back from the precipice of meltdown.

The White House hopes the appeal of the retrofitting program — which some administration officials have dubbed Cash for Caulkers — will be similar to the now-expired Cash for Clunkers program, which offered rebates for trading in used vehicles for more fuel-efficient ones. At a White House jobs forum earlier in the month, Obama told Home Depot chairman Frank Blake that home improvement companies would be key partners in this program.

Obama has also proposed expanding stimulus initiatives that promote energy efficiency and clean energy jobs. Currently, about $8 billion of the $787 billion stimulus package goes toward energy-saving investments in homes. The White House has said investments like installing insulation, sealing leaks and modernizing heating and air conditioning equipment will pay for themselves many times over.

[bertman]

12. I can read and I can hear too. (Can't hear as well as I used to but, still pretty good.)

NOWHERE in the speech is there mention of loans or grants to homeowners so they can make the needed retrofits. I saw loans to small business--great, but that doesn't encourage a HOMEOWNER to spend money he/she does not have. I heard more money from Congress (if they can get over their "deficit" fears) to pay for investment programs--great, but if it's the same thing we have going on now but simply expanded, it still does not address the root issue--HOMEOWNERS who don't have the money cannot spend it. You can train all the installers you want. You can give small businesses loans so they can gear up for making the retrofits (or just stay afloat until the work kicks in). You can do all the things the President talks about but IT'S MONEY IN THE HOMEOWNERS' POCKETS (GRANTS) or LOANS FOR THE AMOUNT NEEDED that will make this idea work.

The Cash for Clunkers analogy sucks. Homeowners cannot trade in their existing home to get a better insulated home.

Right now and through 2010, a homeowner can get up to a $1500 TAX CREDIT if he/she spends $5000 on energy improvements that meet the guidelines. That's wonderful. But it doesn't touch the millions of homeowners who cannot lay out the $5000 to pay a contractor to do the work in the first place.

I'm a contractor. My firm performs the type of work that the President is describing. We have informed our entire client list (over 350 families) that the energy tax credits exist and exactly what is needed to get them. Even though a high percentage of our clientele is upper middle-income earners who are highly-educated folks who are environmentally aware. Yet we are still seeing only a very few who are opting for this type of retrofit.

My point, again, is that GRANTS or LOW/NO INTEREST LOANS to homeowners ARE WHAT IS NEEDED--not incentives, or tax credits, or extended tax credits.

[pundaint]

3. Any of that product he's pushing made in the USA.

I notice he went to one of the most Right Wing, Chinese-shit-importing businesses to make his announcement. Has Home Depot ever done anything progressive? Couldn't he have gone to an ACE or Tru Value, or even better an ancient local venue?

We wont get ourselves out of this problem by hiring more Chinese.

For a guy who gets credit for playing three-dimensional chess, our President seems pretty oblivious at times.

[WriteDown]

5. That's a no win though...

Ace and Tru Value are junk. And Lowes is JUST as right-wing as Home Depot. The only good thing about Home Depot is they are more geared toward contractors than consumers so I find I can get some nicer quality stuff. Of course, I do all the work myself which is not for everyone.

[HiFructosePronSyrup]

6. maybe you should also have listened to the speech.

"We are on track to double renewable energy production, and double our capacity to manufacture clean energy components like wind turbines and solar panels right here in the United States by the year 2012 -- doubling it."

[bertman]

8. Who's going to buy all of those turbines and solar panels, HiFructosePronSyrup? If our

economy continues to slide as it is now, only the very wealthy will be able to afford the cash outlay to pay for those items.

Insulating homes is an EXCELLENT way to generate jobs and to save energy, but NOT if homeowners have to pay out of pocket with money they don't have.

[WriteDown]

9. The only good news is that rolls of unfaced insulation are down

to below 10$ a roll at HD now. That truly is an incredible price.

[HiFructosePronSyrup]

10. You're just digging yourself into a hole here.

You're just sticking your fingers in your ear and going "la la la."

[bertman]

13. Please refer to post #12.

[bertman]

7. I agree with you in spirit, pundaint, but I cannot remember seeing insulation rolls or

batts in an ACE Hardware or Tru Value Hardware store. They are not geared toward large-scale, contractor-sized product sales--at least in our area.

We buy as little as possible from the "big box" stores like HD. One major problem now is that SO MUCH of our building products inventory comes from overseas. But I agree with your "Buy American" stance 100%.

[Cha]

11. This will be an added incentive to those who

who need to insulate their homes to make them more energy efficent!

"Obama has also proposed expanding stimulus initiatives that promote energy efficiency and clean energy jobs. Currently, about $8 billion of the $787 billion stimulus package goes toward energy-saving investments in homes. The White House has said investments like installing insulation, sealing leaks and modernizing heating and air conditioning equipment will pay for themselves many times over.

In a memo for the president, Vice President Joe Biden said stimulus spending and other initiatives will lead to 1 million home energy-efficiency retrofits by 2012. The report also said the U.S. is on track to double renewable energy generation, including solar, wind and geothermal, in three years."