The United States government said that Colorado will receive over $128.7 million in funding for weatherization and energy efficiency programs. Among this funding, $79.5 million is for the US Department of Energy's (DOE) Weatherization Assistance Program and $49.2 million for the State Energy Program. This funding is part of $8 billion investment plan under President’s American Recovery and Reinvestment Act.
“This energy efficiency funding for states is an important investment in making America more energy independent, creating a cleaner economy and creating more jobs for the 21st century that can’t be outsourced,” said Vice President Joe Biden.
The funding will support weatherization of homes, including adding more insulation, sealing leaks and modernizing heating and air conditioning equipment, which will pay for itself many times over.
“Even as we seize the enormous potential of clean energy sources like wind and solar, the American Recovery and Reinvestment Act makes a major investment in energy efficiency, which is the most cost effective route to energy independence,” Energy Secretary Chu.
The Weatherization Assistance Program will allow an average investment of up to $6,500 per home in energy efficiency upgrades and will be available for families making up to 200% of the federal poverty level – or about $44,000 a year for a family of four.
The State Energy Program funding will be available for rebates to consumers for home energy audits or other energy saving improvements; development of renewable energy projects for clean electricity generation and alternative fuels; promotion of Energy Star products; efficiency upgrades for state and local government buildings; and other innovative state efforts to help save families money on their energy bills.
The DOE’s Weatherization Assistance Program allows low-income families to reduce their energy bills by making their homes more energy efficient, reducing heating bills by an average of 32% and overall energy bills by hundreds of dollars per year.