Vice President Biden announced April 22 that $452 million in Recovery Act dollars will be used to fund energy efficiency building retrofits. The funding is being distributed through 25 regional, state and local efficiency programs selected by the Department of Energy’s Retrofit Ramp-Up initiative.
A number of these programs specifically target multifamily properties, and assistance will range from technical services to grants and low-cost financing.
Additionally, the Administration clarified that this funding did not diminish the need for additional building retrofit incentives and encouraged Congress to pass the pending “Home Star” bill (HR 5019) that provides efficiency rebates for single-family houses. The House was expected to take up the $6 billion bill, also known as “cash for caulkers,” the week of May 17.
NAA/NMHC have been working with a coalition of real estate and environmental interests to enact a comparable Building Star program to provide technical and financial assistance to multifamily housing and commercial building owners to improve energy and water efficiency.
The Senate Energy Committee held a hearing on the Building Star measure in March; however, no comparable legislation has been introduced in the House. Overall, this effort has been stalled by cost concerns and differences over labor-related provisions, making the future of the bill unclear.