The Home Star Program Explained

The Home Star program is a government program that is designed to stimulate jobs and growth in the real estate industry. This program covers several different facets and it could potentially make a difference in the building industry. Here are the basics of the Home Star program and how it works.

Home Star Program

The Home Star program has $6 billion available to give to the public in incentives. This program is designed to stimulate the real estate industry and in turn, the economy as a whole. With this program, consumers are going to be able to get incentives directly from retailers. The basic idea behind this program is similar to the "Cash for Clunkers" program. Individuals will be able to go to different retailers that sell products that will upgrade existing homes and be able to get a rebate directly from the store. Instead of having to pay full price for these upgrades, they are going to be able to take advantage of some significant savings. You could potentially get these rebates from large, national chain home centers, or you could go to local retailers in the home improvement industry to receive them. The improvements that are included in this program are all designed to increase the energy efficiency of a home.

Different Levels

This program has two different levels that you will be able to take advantage of. There is a Silver Star level and a Gold Star level. If you are going to do some basic improvements to your house in order to increase the energy efficiency, you will most likely qualify for the Silver Star level. This level includes things like sealing your ducts, changing your water heater, changing your air conditioner, or putting in more insulation. If you engage in any of these activities, you are going to be able to get 50 percent of the cost up to $1500 reimbursed to you through rebates. 

If you plan on doing a more comprehensive upgrade to your house, then you may qualify for the Gold Star level. This means that you can get a rebate up to $3000 in this case. This rebate is going to be for bigger projects, such as installing solar panels or a geothermal heating system. 

Quality Verification

In order to make sure that the program is run correctly, the government is going to employ inspectors to do random audits. These inspectors are going to check up on jobs after they have been completed in the homes. They will travel around and make sure that the contractors performed the work up to the standards that are set forth by the program. If it is determined that the project was not completed successfully, they will potentially take back the money for the rebate. 

Jobs

One of the main objectives of this program is to create new jobs. By getting consumers to invest in energy efficient improvements to their homes, they are going to be able to create more work for contractors. Many contractors will be able to find work where they were unable to do so in the past.

 

blog comments powered by Disqus