Stimulus Package Stats

Real Estate Blog

Saturday, February 21 2009

The article below shows a quick overview of the stimulus package. It is a condensed version of the thousands of pages which make up the stimulus package.

Stimulus Package Stats

The economic stimulus law contains

billions of dollars for making existing

homes more energy efficient, including:

$5 billion to weatherize houses

of low-income families.

$2.25 billion to retrofit Section 8 housing

with energy-efficient products, including

$250 million for a program to make

HUD-sponsored, low-income housing more efficient.

$2.25 billion to help build and rehabilitate

low-income housing, including the use of

green technologies, under the HOME Investment

Partnerships Program.

$510 million to improve energy efficiency

through Native American housing block grants.

$300 million to the Energy Star program

and to states for matching grants and rebates

to consumers who replace their old appliances

with Energy Star-rated products.

The law also expands the following homeowner programs:

The Existing Homes Tax Credit

increases from 10% to 30% for the

cost of energy-efficient windows, HVAC

equipment, and insulation, up to $1,500 per

qualifying household through 2010.

The Investment Tax Credit, a 30% credit for

solar thermal and geothermal installations,

had a cap of $2,000, which has been removed.

Likewise, the law removes the $4,000 cap

on small wind turbines.

Source: Alliance to Save Energy

Posted by: Rolando Trentini AT 04:43 pm | Permalink | Email