“Insulation is Sexy”: Obama’s New Retrofit Tax Credits for Homeowners

From on December 22, 2009 in Green Remodeling

President Barack Obama recently proposed new tax credits for homeowners that make energy conservation a priority. The plan, a win-win situation for homeowners, since they will also save money on utility bills, was applauded by the National Association of Home Builders (NAHB). According to NAHB, for every $1 billion spent by homeowners in this category, the energy savings plan will create approximately 11,000 industry jobs and generate millions in wages.

“The simple act of retrofitting [homes and offices] to make them more energy-efficient - new windows and doors, insulation, roofing, sealing leaks, modernizing heating and cooling equipment - is one of the fastest, easiest and cheapest things we can do to put Americans back to work while saving families money and reducing harmful emissions,” said President Obama.

He added, “So what we want to do is create incentives that stimulate consumer spending, because folks buy materials from home improvement stores like this one [the Home Depot store in Virginia where the speech was given], which then buys them from manufacturers. It spurs hiring because local contractors and construction workers do the installation. It saves consumers money—perhaps hundreds of dollars off their utility bills each year—and it reduces our energy consumption in the process. In other words, most of this stuff is going to pay for itself.”

The president also stated that “insulation is sexy.” We don’t know about that, but saving money and American jobs definitely gets us excited.

Photo Credit: CLTV