Whether you are buying a brand new home or an existing home, you may be able to take advantage of the government’s Cash for Appliances program to help you get new appliances to accompany your new house. Yes, that’s right! Cash for your old appliances.
Earlier this week, U.S. Department of Energy Secretary Steven Chu announced the state-run rebate program, designed to support the nation’s economic recovery.
“Appliances consume a huge amount of our electricity, so there’s enormous potential to both save energy and save families money every month,” said Secretary Chu. “These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy and create jobs.”
Cash for Clunker Appliances
Sounds great right? But surely there’s got to be some sort of catch…
The catch may be that each state, or territory, has specified which Energy Star certified appliance categories are available for its residents and the rebate level for each product type. Furthermore, each participating state or territory must develop a plan for recycling consumer’s old appliances, and determine exactly how the rebates for business owners will be processed.
So… How does the Cash for Clunker Appliances program work?
When the program officially goes underway, scheduled to begin later this fall, possibly early November, $300 million of stimulus funds from the American Recovery and Reinvestment Act will be available for consumers who wish to trade their less energy-efficient appliances, for state-of-the-art brand new appliances.
Although the new energy efficient appliances program is managed by the U.S. Department of Energy on an administrative level, participating businesses must follow the state level requirements and limitations.
Eligible appliances will provide consumers with between $50 and $200 towards the purchase of high-efficiency appliances, including dishwashers, boilers, freezers, refrigerators, washing machines, dryers, furnaces, water heaters, and air-conditioning units. All fifty states have applied for the program, meaning that everyone from New York to Hawaii, coincidently the two most costly states for energy, will be able to take advantage of this stimulus program.
This is great news for appliance retailers and manufacturers, including big names such as Wal-Mart, Target, Best Buy, General Electric, Whirlpool, and Kenmore to name a few. A recent CNN News report mentioned that due to the Cash for Clunkers auto program, Honda may very well have had their best August sales numbers in history. A positive aspect of both Cash for Clunkers programs is that they help to stimulate local economies through spending within the immediate community and aiding the city in sales tax revenue.
See more:
Whirlpool Mum on Potential Impact of “Cash for Clunker Appliances” Program
“Clunker Cash” That Makes Sense for New York
Secretary Chu Announces Nearly $300 Million Rebate Program to Encourage Purchases of Energy Efficient Appliances
Video: CNN World News with Charles Gibson
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Interesting. I haven’t heard of this program yet but this could really boost the appliance maker stocks and probably Home Depot and Lowe’s!
kris´s last blog ..Ladies Electric Razor
I’ve got a very old washer/dryer set and would love to turn them in for more efficient ones.
Sam@Austin Real Estate´s last blog ..Cell Phone Use Banned in School Zones in Texas
Never heard about that also .. but I think it will have good impact in the near future ..
Great post, keep up the good work!
If you purchase an appliance prior to the official start of this rebate program will you still qualify for a rebate? I am in the middle of a remodel and will have to purchase appliances soon.
I don’t believe so. You may want to double check with the retailer you purchased your appliance from.
bummer, I had to replace my electric water heater over the weekend because it leaked. If only it could have waited until November to break. Go figure my luck!
I do have three year old washer and dryer I would love to trade up for those front loader ones. And maybe trade up my five year old fridge and chest freezer. That would be nice. I think my freezer is like 9 years old.
Thanks for giving great info on the program. I head heard about it but hadn’t seen any of the details. We might jump on this for a new water heater!
@Atlanta Hardwood Flooring – I think you should! It would be a great way to save some money. Let us know if you try we would love to hear about your experience.
I haven’t heard too much about this program since I first heard about it 2 or 3 weeks ago. What little I have heard, hasn’t been positive. I just hope that this program, along with similar programs, actually have a positive influence on our ailing economy.
Mesa Chiropractic´s last blog ..A Day at the Chiropractor’s Office
Well, this is news to me. I think this will be a great shot in the arm for the retailers, though I do see a downside as this will also stimulate compulsive buying when some consumers really can’t afford to upgrade.
This is excellent information. I will do research in my state to see what they are doing and get the information out to my clients and more. Thank you for this post.
Chapel Hill Real Estate´s last blog ..Foreclosures in Chapel Hill, Orange County, Durham, Raleigh, etc
Wouldn’t it be a better source of tax dollars to pay off our debt? I know I’m going to get slammed for this but it’s common sense. More energy efficient appliances are great for consumers the energy bills and the environment but how many people are paying cash for their appliances. I would think that this will trigger another credit spending nightmare for already tapped households in America.
Greg Dallaire@Green Bay Real Estate´s last blog ..Howard Suamico Wi School District Why are people drawn to it?
Great information! This will be an attractive incentive for my clients. Whether purchasing an older home or a new home, the cost of appliances always plays a role in their decision process.
Augusta Real Estate´s last blog ..Awesome 4 BR 3BA All Brick Rancher in Columbia County
Sounds like a good program but I have heard very little about it. They need to get the word out.
Yeah, this hasn’t gone around that much. This hits two birds with one stone: stimulus for the economy and, even better, long-term energy savings and decrease on environmental impact.
John Anderson @ Long Fence & Home´s last blog ..Long Fence and Home Home
Thanks for the informative article on the cash for appliances program. I have so much junk lying around and now I know what to do with it. Thanks
No stoves. I have energy efficient appliances but the stove. oh man.
Any idea when this will begin? My washer just died, and i can’t wait too long to replace it.
I am happy to report that North Carolina is going to have a Cash for Clunker Appliance Program. The State Energy Office is preparing the application for submission in November and the program should start in the first quarter of 2010.
Chapel Hill Real Estate´s last blog ..New Chapel Hill Home for Sale in North Haven
Can anyone tell me if stoves are included? That’s the one i need figures. Seems odd they list every appliance except .
Hi there, great idea to stimulate the economy and help get rid of those wasteful old appliance, great idea.
Jeff @ Stainless Steel Canister Set´s last undefined ..If you register your site for free at
There are some amazing savings happening if you take advantage of the rebates from the manufacturers as well as the government rebates. There can be so much savings that you can actually upgrade to a much nicer set because of the savings.
That is such a cool program. Thank goodness the government is going green and giving a whole lot of green away as a result. Gotta love it!
Michelle´s last blog ..How Do Electrolux Refrigerators And Ranges Comare To Other Manucturers?
I always go for shopping for home appliances as I’m a full time housewife. This kind of programs gives me that crazy buying attitude. I hope this program is available in my country too.
Atniz@Work At Home´s last blog ..2010 – A Recovery Year
This has been a great program to help stimulate the economy. Sometimes we have people calling and we determine that instead of getting it repaired, it would be a lot cheaper for them to trade in their appliances through the Cash for Clunkers Appliances program instead. We don’t get their business, but I believe it makes us earn their trust.
Carlo@Appliance Repair San Diego´s last blog ..Around The Web