Cash For Appliances Program - 4 Important Questions To Ask
So you have heard of Mortgage Loan Modification and Cash For Clunkers programs, are you aware of the Cash For Appliances program which rebates you whenever you purchase new energy efficient appliances to replace the used ones?
The Cash For Appliances program is supported by an initial $300-million in funding from the American Recovery and Reinvestment Act created by the Obama Administration, which aimed to boost the US economy by encouraging more appliance sales as well as encouraging the Americans to go green by buying more energy efficient (* Energy Star certified) appliances.
* Energy Star Certified – Appliances certified as energy efficient by the Energy Star program. You may like to check if your appliance or product is Energy Star qualified.
Q1. Which Appliances Would Qualify For This Program?
Below is a list of appliances that will likely to qualify for this program. (However, not all appliances below will qualify for your state. You are advised to check out the list of approved appliances for your state from the Energy Saver website.)
1) Clothes Washers
2) Dishwashers
3) Central Air Conditioners
4) Water Heaters
5) Heat Pumps
6) Boilers
7) Furnaces
8 ) Freezers
9) Refrigerators
As different states design and manage their own rebate programs, you may wish to find out about the program start dates and specific eligibility criteria for your appliance. Simply click on your state and you can find out more eg. eligible appliances, facts sheets, website of your state for you to download your rebate forms and other information.
Q2. How Much Rebates Will I Get?
Your rebate amount will range from $50.00 to $200.00 per appliance since individual states set their own rebate amounts depending on their share of the $300 million fund. For instance, in some cases, refrigerators can fetch $75.00 in rebate while clothes washers can fetch up to $100.00. The amount will depend on the type of appliance you purchase, the purchase price and other factors. If you plan to recycle your item, certain states will give additional rebates too.
Q3. Who Can Qualify For This Program?
If you are a residential consumer, all you need to do is to purchase a qualifying Energy Star appliance. There is no absolutely no need to trade in any old one. Though some stores do verify if you are truly recycling an old item yet they are generally buyer-friendly. No worries.
Q4. What Long Does This Program Last?
Individual states and territories will have until Feb 2012 to spend the fund allocated to them. The rebate program will stop once the states and territories do not have the money to support it. How you get notified when the funding for the rebate program exhaust will depend on how your state plans to notify you.
In Summary
You should not just look at the rebate amount given to you but also the amount of energy you can save with your newly acquired Energy Star certified appliance. For example, if you replace a 1993 manufactured refrigerator with an Energy Star model, you can potentially save up to $65.00 annually. On the other hand, a clothes washer will be able to save up to $130.00 annually for you.
Related Links:
- ENERGY STAR Qualified Products
- Rebates for ENERGY STAR® Appliances
- Approved Energy Efficient Appliance Rebate Programs
