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General Interest & Miscellaneous News
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Rep. Peter Welch (D-VT) Introduces REEP Energy Bill with Enhanced Incentives for Historic Buildings
Historic Preservation Blog from PreservationDirectory.com - financial incentives to homeowners, reduce energy use, save money, National Trust for Historic Preservation, Retrofit for Energy and Environmental Performance
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://www.nationaltrust.org

Rep. Peter Welch (D-VT) introduced an energy/climate change bill this week which provided financial incentives to homeowners and businesses to reduce their energy use and save them money.

The Retrofit for Energy and Environmental Performance (REEP) program would fund state and municipal investments of up to half the cost of retrofitting the nation’s existing homes and buildings, which account for 10 percent of global carbon emissions. Homeowners could qualify for $1,000-$3,000 in financial incentives for achieving a 10-20 percent increase in efficiency, with another $150 for every additional percentage point of energy savings achieved. Businesses could qualify for $0.15 per square foot for the first 20 to 30 percent increase in efficiency with an increasing incentive of up to $2.50 per square foot for energy reductions over 50 percent. Incentives for both homes and commercial buildings would be capped at 50 percent of the cost of the retrofit. Historic Buildings on the National Register of Historic Places would be eligible for 120 percent of these same awards for funding energy efficiency. Funding for the program would go to the states through the existing State Energy Program formula, which has a built-in small state minimum, and provides additional financial incentives to states with highperforming programs. The bill would provide $2.5 billion to states annually from FY10 through FY13.

Welch’s REEP bill is expected to be folded into the larger climatechange/ energy bill to be formulated by the Energy and Commerce Committee later this spring.

Reprinted by permission of the Public Policy Department of the National Trust


Keywords: financial incentives to homeowners, reduce energy use, save money, National Trust for Historic Preservation, Retrofit for Energy and Environmental Performance

Posted: March 27, 2009
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