In his latest effort to revitalize the economy, President Obama announced the HOMESTAR plan today. This program will provide homeowners with up to $3,000 in rebates as an incentive for homeowners to make their homes more energy-efficient.

According to the Associated Press:

Consumers would be eligible for between $1,000 and $1,500 in on-the-spot rebates for buying insulation, water heaters or other equipment to help their homes burn energy more efficiently. Rebates of $3,000 would be available to consumers who get a home energy audit and then make the changes needed to produce an energy savings of 20 percent.

By providing incentives for homeowners to make upgrades and renovations, Obama hopes to boost jobs for construction workers and contractors. The program would also help those companies producing energy-efficient windows, doors, HVAC units, insulation, and appliances.

According to an Obama quote on The White House Blog:

Here’s one of the best things about energy efficiency – it turns out that energy-efficient windows or insulation, those things are products that are almost exclusively manufactured right here in the United States of America. It’s very hard to ship windows from China. So a lot of these materials are made right here in America.

Not only that, but on top of helping to pay for renovations at the actual time of purchase, this Homestar proposal would create a source of real, ongoing money savings for those that invest in making their home more energy efficient.

This program must first win approval from Congress. In the meantime, to help you get the ball rolling with some things to think about, here are some ways to make your home more energy efficient.

1. Replace drafty windows and doors with better insulated, less leaky ones
2. Insulate walls and attic floors.
3. Replace your old heating system, sensors, and controls.
3. Upgrade old water heaters and fridges to new, more efficient products.