"Cash for Clunkers," at least from a car dealer perspective, was a huge hit. A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances, nicknamed "Cash for Appliances" or "Cash for Refrigerators" is apparently coming, in late fall 2009.While billed, just as "Cash for Clunkers" was, as a way to get rid of old, less environmentally-friendly appliances, "Cash for Refrigerators" (or appliances) will also help the appliance industry, which has been severely impacted by Americans' new frugality.
"Cash for Refrigerators" will authorize rebates of $50 to $200 for purchases of high-efficiency household appliances. While many on the right are making fun of the new program, it should be noted how many GOP reps in the House were quick to pass the "Cash for Clunkers" extension, as well as speaking for it as well. A few in the Senate crossed over, as well.
The Energy Dept. expects the bulk of the "Cash for Appliances" $300 million to be awarded by the end of November. Hey, I'll look into it; we could use a new refrigerator. Unlike the "Cash for Clunkers" program, consumers won't have to trade in their old appliances.
It should be remembered that while "Cash for Refrigerators" (or appliances!) is a federal program, there are rebate programs for buying energy efficient appliances from states, local governments, and utilities already in place. Unfortunately, PG&E doesn't offer any refrigerator rebate in my area.
Will this spur demand? Some are skeptical. For one, the rebate doesn't compare to "Cash for Clunkers." For another, refrigerators and appliances just don't resonate with people as cars do.
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