Thursday, August 27, 2009
'Cash for appliances' coming soon
Posted by Rhiannon Fionn-Bowman on Thu, Aug 27, 2009 at 2:17 PM
The federal government has set aside stimulus funds to buy back clunker appliances. States, who will create their own rebate programs, are required to submit their clunker program plans by October. Expect the money to hit the streets late this year or in early 2010.
The ultimate hope for the program is three-fold: It will help American households become more energy-efficient, which will benefit the environment. At the same time, the program will help consumers save money on their energy bill while boosting sales for retailers and manufacturers.
The US government is in the process of forming a new program designed to boost struggling home appliance manufacturers and retailers (and the environment) by spurring cautious consumers to buy energy efficient models. The program will reward consumers who buy qualifying Energy Star models of appliances (refrigerators, washing machines, etc.), hopefully increasing sales while reducing harm to the environment.According to a report by the Baltimore Sun , the federal government has set aside $300 million in stimulus money, which it will give to states. Each state will develop its own reward program. Maryland, for example, which will receive $5.4 million dollars, is working with its utility companies already running appliance rebate programs to develop the new program. The government is encouraging states to include heating and cooling appliances and water heaters in the rebate system. All states must submit their plans to federal officials by October 15, and rebate money could be available by the end of this year or early next year.
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