Energy Retrofit Program to Bring Energy Loans and Green Jobs

I've been advocating consumer incentives to stimulate the green economy and the creation of green jobs for a while now, and finally, the federal government gets its act together and announces the program.

The announcement culminates an 18-month-long interagency effort to address the recommendations laid out in the October 2009 Middle Class Task Force Recovery Through Retrofit report, which identified homeowners’ lack of access to information and consumer-friendly financing options, as well as a lack of skilled workers, as the key barriers to a strong nationwide market for home energy upgrades.

“The initiatives announced today are putting the Recovery Through Retrofit report’s recommendations into action – giving American families the tools they need to invest in home energy upgrades,” said Vice President Biden. “Together, these programs will grow the home retrofit industry and help middle class families save money and energy.”

The program ill make available low-cost energy audits to homeowners, and will allow them to get PowerSaver" 20-year loans of up to $25,000. The SBA is also creating an online course for entrepreneurs who are looking to enter the home energy retrofit market.

“HUD and FHA are committed to lowering the cost and expanding the availability of affordable financing for home energy retrofits,” said Secretary Donovan. “PowerSaver will help more homeowners afford common sense, cost saving improvements to their homes, and will create jobs for contractors, installers and energy auditors across the country.”

Read the White House press release. November 10,2010.