Owens Corning recently announced its support of President Obama’s $6 billion HOMESTAR program that promotes the creation of tens of thousands of U.S. jobs and encourages consumers to make energy-saving home improvements, including sealing and insulating. President Obama introduced the program in a speech on March 2 at the Savannah Technical College in Savannah, Ga. With unemployment in the construction sector near 25% and with substantial underutilized capacity in the manufacturing sector, the HOMESTAR program has the potential to jump-start economic recovery by boosting demand for energy-efficiency products and installation services.
“Owens Corning strongly supports President Obama’s HOMESTAR proposal,” said Mike Thaman, chairman and CEO. “We applaud the President's leadership in driving policy that promotes job creation and energy efficiency. Encouraging consumers to make energy-saving home improvements, like sealing and insulating, will create U.S. jobs while saving energy and lowering homeowners' energy bills. The current condition of the U.S. housing market provides a unique opportunity to take advantage of available product and skilled worker capacity to get this done. We will work to support the President's HOMESTAR initiative and its many benefits.”
The HOMESTAR program would enable homeowners to collect on-the-spot rebates of up to $1500 for having their attics properly sealed and insulated. The Obama administration expects about 2 million to 3 million households to participate in the HOMESTAR program, which will also help reduce the U.S. economy’s dependence on oil and support the development of an energy-efficiency services sector.
During his speech Tuesday, President Obama emphasized the importance of America pursuing energy-efficiency improvements, saying “the country that leads in clean energy is also going to be the country that leads in the global economy. Just like a responsible homeowner will invest in their homes in the near term to fortify their economic security in the long term, we've got to do the same as a country.”
The HOMESTAR proposal still needs approval from Congress. Additional information is available at www.owenscorning.com