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Cash for Clunker Appliances
The fridge on its last legs? Uncle Sam wants you to replace it with a new, energy efficient model - and will give you money to do so.By Jim Ostroff, Kiplinger.com
Cash rebates for clunker vehicles were such a smash hit, the government is at it again - this time offering you cash for your worn-out household appliances.
The $300-million federal program - administered through the states - will provide consumers with a cash rebate of up to 15% of the cost of each new Energy Star-rated refrigerator, freezer, dishwasher, clothes washer, water heater and room air conditioner. Expect rebates to run from $100 to $250, depending on the cost of the appliance.
But wait - there's more. The program also covers central AC/heating systems, providing rebates of up to $1,500 for Energy Star-rated replacement systems plus a federal income tax credit of up to $1,500 on purchases made by the end of this year.
Though a few states - Iowa, Kansas, Minnesota and Rhode Island - have jumped the gun and already have the incentives in play, most other states will launch the program later this month. States' shares of the federal program are based on population. California will receive ... more

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