BI-PARTISAN LEGISLATION INTRODUCED TO CREATE PERFORMANCE REBATES FOR IMPROVING THE ENERGY EFFICIENCY OF EXISTING HOMES
On March 21, 2012, Congressmen David McKinley (R-WV) and Peter Welch (D-VT) introduced the "Home Owner Managing Energy Savings Act of 2012" (HOMES Act). This bill creates a new performance-based existing homes rebate program for homeowners to improve the energy performance of their homes. RESNET applauds this bill and these Congressmen’s leadership on energy efficiency.
The HOMES Act provides a federal rebate of up to $8,000 for homeowners to improve the energy performance of their homes. The amount of the rebate is driven by the percentage the energy performance is improved. The following is the amount of rebate driven by the percentage improvement:
- $2,000 for a 20-24 percent reduction
- $3,000 for a 25-29 percent reduction
- $4,000 for a 30-34 percent reduction
- $5,000 for a 35-39 percent reduction
- $6,000 for a 40-44 percent reduction
- $7,000 for a 45-49 percent reduction
- $8,000 for a 50 percent or more reduction
The legislation specifically recognizes RESNET standards for certified Home Energy Raters to verify the credit, RESNET accredited software programs to model and calculate the energy savings and RESNET Energy Smart Home Performance Teams to install the improvements.
RESNET was part of the coalition which worked with Congressmen McKinley and Welch in drafting this legislation. RESNET feels strongly that a performance-based model, which allows the consumer to decide how to best retrofit a home, is good public policy and deserving of support. This is just one more step toward the revitalization of the housing industry and a more energy efficient America. This also reflects the added credibility that RESNET has in Washington.
RESNET will be working with its strategic allies in urging that Congress take action on this bill.
RESNET also urges you to contact your Congressional delegation to encourage them to join Congressman McKinley and Congressman Welch in co-sponsoring the bipartisan HOMES Act.
To view the proposed legislation click on HOMES Act.