I am pleased to join Senator Warner and Senator Graham in introducing the Home Star Energy Retrofit Act of 2010. This legislation will save consumers money, create American skilled labor jobs, and reduce home energy consumption. If enacted, HOME STAR will build on existing policies and initiatives that have already proved effective. The program is supported by a broad coalition of over 600 groups including construction contractors, building products and mechanical manufacturers, retail sales businesses, environmental groups and labor advocates. HOME STAR will provide point-of-sale instant savings to encourage homeowners to install residential energy upgrades such as air sealing, insulation, and high efficiency furnaces and water heaters. HOME STAR will have a two-tiered approach that will offer flexibility to homeowners when choosing retrofits to install. Under the Silver Star program, rebates averaging $1,000 will be offered for the installation of each eligible energy-saving measure such as new insulation and high-efficiency heating and cooling systems, up to maximum of $3,000 per home. Under the Gold Star program, there will be performance-based grants of $3,000 for a 20 percent reduction in home energy consumption and $1,000 for each additional 5 percent of verified energy reduction as determined by a comparison of the energy consumption of the home before and after the retrofit.
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Bingaman discusses the introduction of the Home Star Energy Retrofit Act of 2010.
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