President Obama’s record-breaking, historic stimulus package,  contains big bucks in the form of subsidies for green energy. Some of which may directly save you money.

Here is an abbreviated summary of the numerous energy-related provisions:

• $2 billion to increase the tax credit for hybrid cars to $7,500

• $300 million for consumer rebates for energy-efficient appliances

• $268 million to remove caps on a 30 percent residential credit for solar, wind, and geothermal installation

   

• $6.3 billion for energy efficiency in multifamily housing getting federal assistance, such as HUD-sponsored low-income housing

• $5 billion to weatherize more than 1 million homes owned by “modest-income” families.

• $4.5 billion to increase the energy efficiency of federal buildings

• $4 billion to repair and modernize public housing units

• $1.4 billion for bonds to carry out state and local renewable energy and conservation projects

• $510 million to repair and modernize more than 4,000 Native American housing units

• $500 million to train workers for careers in energy efficiency and renewable energy

• $250 million to HUD to improve the efficiency of government-subsidized apartments

The New York Times released a detailed breakdown of the energy provisions here.

Interesting Facts About the $5 Billion Dedicated to Weatherization Assistance (from EcoBroker International)

• This amount could weatherize 1 million homes and, directly and indirectly, create 375,000 jobs.

• Low-income families will save an average of $350 annually from weatherization.

• Every investment of $1 billion in clean energy programs creates nearly 5,000 more jobs than traditional infrastructure spending.

blog by elephant’s realtor – Liz Benson