The Home Star Energy Retrofit Act, aka Cash for Caulkers, would establish an innovative rebate program for projects that improve energy efficiency in homes. Like its predecessor, Cash for Clunkers, which took gas-guzzling vehicles off the highways, the initiative is designed to give the economy and the environment a boost by giving consumers a deal they can't refuse.

Sponsors say the program, to be administered over the next two years, would create 168,000 much-needed jobs, primarily in the moribund construction industry. It would also save an estimated 3 million homeowners a combined $9.2 billion over the next decade through decreased energy consumption, while conserving finite fossil fuels and preventing pollution. The House approved the measure with a 246-161 vote last week, and the Senate would be wise to follow suit.

Rebates of up to $1,500 per project, or half the project cost, are available for the installation of assorted products, including insulation, duct sealing and energy-efficient windows, doors, furnaces, heat pumps, water heaters and appliances. Rebates are capped at $3,000 per household. But even larger rebates -- up to $8,000 --- would be available for homeowners who conduct extensive energy audits and install technology that dramatically increases home-energy efficiency.

Some critics claim the program is corporate welfare cloaked in green. While it's true that companies that manufacture, transport, sell and install energy-efficiency products, as well as their employees, will gain, the benefits of the program would be widespread.

Homeowners would save on projects that many could not otherwise afford. And we would all benefit from cleaner air, a reduced dependence on imported fuels and a reduction in emissions of greenhouse gases and other pollutants.

Other detractors say the program will create a "home improvement bubble" by encouraging consumers to immediately purchase items that they would soon be buying anyway. They predict a sales slump, like what happened in the auto industry after Cash for Clunkers, when the program expires.

But most folks don't buy furnaces, water heaters or appliances until they break. And, unlike cars and trucks, items like insulation and windows aren't sexy necessities that people routinely purchase. Cash for Caulkers is more likely to attract participants who would not otherwise be improving their homes.

Congress needs to recognize that there's more than one way to strike oil or uncover coal. Conservation through energy efficiency is less costly and less damaging than drilling and mining. The Senate should approve this bill.