Greening your home may soon entitle you to some extra green from the government. President Obama is set to announce the details of his “Cash for Caulkers” program today. If passed by Congress, the initiative will allocate about $6 billion to create jobs and provide incentives for American homes to become more energy efficient.

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Deriving its name from last year’s successful “Cash for Clunkers” program, Cash for Caulkers aims to prompt Americans to invest in things like new windows and insulation. It will also provide incentives for general home energy upgrades by offering rebates from home improvement stores, installation companies and utility energy efficiency programs. Not only will the program better the environment by slashing power consumption, the Obama administration hopes the initiative will boost construction and manufacturing jobs – good news for the planet and the economy.

Obama is set to announce program details today in Savannah, GA, the latest stop on the President’s “White House to Main Street” tour. While Cash for Caulkers is designed to be short-term, administration officials say they expect about 2-3 million homes to participate.

Retrofitting and implementing energy efficient features can definitely save homeowners a ton of money on power bills in the long run, but purchasing and installing those upgrades can be pricey initially. With any luck, a government-supported incentive program like Cash for Caulkers will provide homeowners with the little financial push they need to green up their residences.

Via Reuters