Cash for Refrigerators Program Launches in Fall
After the launch of Cash for Clunkers, where owners sell their old cars in exchange for cash discounts on new cars, the refrigerator industry is following suit.
Businessweek reports that this new program offers anywhere from $50 to $200 discounts to consumers who would want to buy new refrigerators. But the offer also extends to new appliances such as a washing machine.
Cash for Refrigerators took effect last week in New Jersey, while other states are said to be implementing their own starting next month.
“Beginning late this fall, the program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. The money is part of the broader economic stimulus bill passed earlier this year. Program details will vary by state, and the Energy Dept. has set a deadline of Oct. 15 for states to file formal applications. The Energy Dept. expects the bulk of the $300 million to be awarded by the end of November. (Unlike the clunkers auto program, consumers won’t have to trade in their old appliances.)
“These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy,” Energy Secretary Steven Chu said in a statement announcing the plan. Only appliances covered by the Energy Star seal will qualify. In 2008, about 55% of newly produced major household appliances met those standards, which are set by the Energy Dept. and Environmental Protection Agency.”
Refrigerators made prior to the 90′s are said to be less energy efficient. Old refrigerators are also known to emit chlorofluorocarbons, harming the ozone layer. So homeowners, consider taking advantage of this program to do your share in saving the environment.
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