Cash for Refrigerators
Cash for Refrigerators (aka the household appliances stimulus plan) will start fall 2009. How much money? $50 to 200 for your older poor efficiency appliance. Considering a new exceptional washer can cost you as little as $200, the plan is a great idea. The plan varies state by state. The Energy Department has set October 15 as each state’s deadline for filing applications.
The payments will be as rebates. Energy Secretary Steven Chu said in a recent statement the following about the plan: “These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy.” But if you’ve bought an appliance in the last few years, you know the rebate offer is not new. This rebate will just go on top of existing rebates already posted in 25 states on appliances that carry the Energy Star seal. In fact, reports say further discounts at Home Depot and Lowe’s on such appliances recently reportedly have not drawn substantially increased buying.
A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it’s probably not enough to lift companies such as Whirlpool (NYSE:WHR – News) and Electrolux out of the worst down cycle in the sector’s history.