Are You Eligible for $6,500 In Home Energy Improvements?

Photo: George Peters/ Istock

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Hey, buddy, want $6,500 to improve your home and save 32% on energy bills?

It sounds like a scam. It's actually President Obama's economic stimulus.

The Department of Energy is releasing the first installment of an $8 billion package for home improvements throughout the U.S. Participating homes, according to the administration, will receive as much as $6,500 worth of improvements. The families that participate will benefit indefinitely, as their electric and heating and cooling bills drop, thanks to the energy efficiency improvements like the installation of better windows and doors. Some homes will cost as much as 32% less to heat and cool. Improving energy efficiency is "the most cost-effective route to energy independence," according to Energy Secretary Stephen Chu.

To qualify, the homeowner can make no more than 200% the poverty level, or about $44,000 for a family of four. Weatherization programs are administered by each state, so look to your state's energy or environmental agency for information about how to participate. With federal money, states may also offer other incentives to a wider array of families, like subsidized energy audits or additional tax breaks for energy efficiency or renewable energy projects. (Check out existing federal home energy tax credits, which can add up to thousands in savings.)

So where's the stimulus? This program is supposed to employ 87,000 "green collar" workers. These aren't the solar panel manufacturers you might picture when you think of the "green collar economy." These are the calkers, the insulators and the furnace installers. By working to improve the efficiency of U.S. buildings -- responsible for roughly one-third of U.S. greenhouse gas emissions -- their work is truly green. There's also no way to outsource them, Vice President Joe Biden likes to point out.

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