Can Energy Efficient Home Improvements Stimulate the US Economy?
Posted: Wednesday, January 07, 2009
by Jessop Petroski
http://www.energy-efficient-home-improvement.com
Energy Efficient Economic Plan
It looks like America may be getting a whole lot more energy-efficient as part of a new, ' green ' stimulus package. The energy-saving plan is expected as part of a stimulus package from lawmakers set for early January that could top $800 billion and include everything from tax breaks to road repairs.
First of all, it can be done relatively quickly using existing state and regional agencies. Conservation is also essential if the country is to switch to cleaner and more renewable forms of electricity, since it can't currently provide the sheer megawatts that fossil fuel or nuclear power can produce.
Under such a plan, the government would commit just over $30 billion towards making the nation energy efficient. The money would be spent as follows:
- $3 billion for home energy retrofits, which could include rebate checks for people who buy energy-efficient appliances like air conditioners and refrigerators.
- $3 billion for energy retrofits at public buildings, which may include hiring people to conduct energy audits and install so-called "smart-meters" that more efficiently allocate power.
- $3 billion to promote energy efficiency in commercial buildings, largely in the form of tax breaks for developers who build them.
- $3 billion for efficiency projects at schools.
- $3.5 billion to expand current state energy efficiency programs.
- $5 billion more for states that pass stricter building efficiency standards and restructure their utility conservation incentives.
- $6 billion for local governments to make power plants and transportation networks more efficient.
- $4 billion for things that include construction of a better electric grid, efficiency at military institutions, workforce training, additional smart meters, and an expansion of the weatherization program to better insulate homes.
Sounds like a good plan, but will it work???
With these objectives in place, the program might drop the country's energy consumption by half a percent each year for 20 years. While that doesn't sound like much, with the U.S. spending over $1 trillion on energy each year, the savings could top $5 billion a year, or over $100 billion in the 20 year span. Not to mention the impact that individuals can make themselves from do-it-yourself home energy improvements.
Just imagine if people started taking action in a such a way as the government is about to. The impact would be HUGE!
"An economic recovery bill that includes significant investments in energy efficiency will not only create jobs immediately, but also and more importantly will bring American ingenuity and its "can-do" spirit to a new, clean and sustainable energy future," Alliance to Save Energy President Kateri Callahan said in a statement announcing the program last week. The Alliance estimates its plan will directly create 190,000 jobs in short order.
The Associated General Contractors of America backs the plan, saying every $1 billion dollars spent on infrastructure - energy efficiency included - nearly 30,000 jobs are created. "Clearly, it will put construction workers back to work and put money in the economy," said Brian Turmail, a spokesman for the contractors' association. "This is a tremendous opportunity."
Whether a 'green' economic stimulus plan gets approved or not, one thing is for certain; energy efficiency and green living has come to the forefront of our social fabric in America now and that's a good thing.
Understanding home energy efficiency can be one way homeowners can be smarter about their home energy consumption and finding ways to use it more effectively.
This Article has been viewed 72 times. (Not updated in real-time.)
Top-level comments on this article: (2 total)I agree very much with this article. Unlike many folks, I have no choice but to be "green". When updating my home, I re-used lumber when at all possible. While it saved me $$ to not have to buy new 2x4's, it also gave me satisfaction that I didn't throw it away. I also do not have a heat bill per say, I have used a woodstove for over 20 years and have used it for my main source of heat. Again, it's not something I wanted to do, it was something I had no choice to do. I could not afford my oil heat bill. My furance is well over 30 years old now and is out of commission. The only good it is now is to be taken apart as much as possible and sold for scrap. I would love to go out and buy a new energy efficient furnace, but I don't have the $$ to do so. It takes money to save money. I did love your article as I found it to be very informational. Today, everyone, is trying to save in one form or another.Thanks for your feedback Lisa. Once of the best channels to watch is Planet Green and they have alot of information on scrapping your old appliances at home. This is just the beginning of a major green movement in our country.
Important timing for this technology. I'm sure that those interested in the topic presented will find your article informative and interesting.
We want your comments! If you can read this, you don't have javascript enabled, so you can't use this comment system. Please enable javascript.