Home > Finance > Rebates Help You Save Money When Upgrading Appliances

Rebates Help You Save Money When Upgrading Appliances

In the market for a new appliance? Then think Energy Star. Not only will you be helping the environment by purchasing an energy-efficient appliance, but you’ll be helping your budget as well, thanks to a $300 million “cash for appliances” program funded by the U.S. government and being rolled out state by state.

The Energy Star program is a partnership between the U.S. Environmental Protection Agency and the U.S. Department of Energy. According to the Department of Energy, by using Energy Star, Americans saved enough energy in 2008 alone to avoid greenhouse gas emissions equivalent to those from 29 million cars–and also saved $19 billion on their utility bills.

The appliance rebate program differs in each state, but the basics are this: Buy an Energy Star appliance and receive a rebate of between $50 and $250. You must be replacing an existing appliance to qualify. Depending by state, the program covers boilers, air conditioners, washers, dishwashers, freezers, furnaces, heat pumps, refrigerators and water heaters.

Each state runs its own program with funding from the Department of Energy. Dates and program details vary by state. Check out http://www.EnergySavers.gov for details on your state’s program.

One piece of advice: Act quickly. The rebate program will continue only as long as each state has the funds to support it. Once the funds are exhausted, so is the rebate program.

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Categories: Finance
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