Times are really hard these days so it comes as no surprise that so many people are already searching for great deals as we are entering the holiday season. Among them are the terms “cash for old appliances”, “cash for refrigerators” and “cash for kitchen clunkers”. These taxpayer-subsidized rebate programs are initiatives of the U.S. Department of Energy for consumer purchases of new ENERGY STAR qualified home appliances.
“These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy and create jobs,” said U.S. Department of Energy Secretary Steven Chu. It has a federal funding estimated to be around $300 million, a small amount compared to the very succesful Cash for Clunkers.
For more details, please read the Energy Department’s official press release
The recent hype of cash for clunkers has prompted the U.S. government to follow up its campaign with cash for refrigerators in the hope to save major appliance manufacturers such as Electrolux and Whirlpool.
The program will start this fall wherein consumers will get rebates from $50 up to $200 for buying energy efficient household appliances like refrigerators and dishwashers. These appliances carry the Energy Star seal. The only difference is that you don’t have to trade your junky old appliances to avail these rebates. Just swipe the card and go! Program varies by state.
“These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy,” said Energy Secretary Steven Chu in a statement announcing the plan.
So if you’re planning to buy some appliances this month or the next, hold it for a while and see big you can save from this cash for refrigerators rebate program. Better yet, just hold all your purchases for now. Who knows there might be a cash for PS3 or Xbox in the coming months.