Recently, the extremely popular Cash for Clunkers program ended, with great success during it’s run. A new incentive program will be debuting this fall that will offer rebates up to $200 dollars for people to replace their old, inefficient appliances with new, energy-efficient models called Cash for Refrigerators. This program hopes to boost sales in the struggling economy while encouraging people to become “greener” in their choices.
The Cash for Refrigerators program will differ slightly from the Cash for Clunkers program by being offered at the state level. States must submit plans by October 15th as to how they intend to administer the rebate program in their state. States that already have a rebate program for energy-efficient appliances will simply see additional benefits or will slightly expand upon the guidelines that are already in place. The program will, however, bring this rebate to states that do not currently have such a plan.
This program has not received nearly as much attention as the Cash for Clunkers program, and may not be as well thought out as the clunkers incentive. The Clunkers program required you to trade in an old car in order to receive the benefits on a new one. This program does not require you to trade in an old appliance, which increases the likelihood of people continuing to use their old appliances while also using the new eco-friendly models they are purchasing for the rebate program.
Before you go out to purchase a new appliance, take into consideration what you will be doing with your old unit. If your old unit is still in good condition and is not very old, you may very well be using throwing away good money to purchase new appliances. Although this program is excellent for those will extremely old, inefficient appliances, make sure to calculate the costs before running out to purchase all new appliances just because of a rebate.
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