In the spirit of the soon-to-be phased out Cash for Clunkers program, Americans have a new incentive to get rid of inefficient resource-suckers. This time it’s appliances. According to American Public Media’s Alisa Roth, Congress included $300 million in the stimulus package this year to use as rebates for consumers who buy new, more energy-efficient appliances.
Unlike the Cash for Clunkers program, you don’t actually have to turn in your old refrigerator or washing machine to receive the incentive. When you buy a new appliance with an Energy Star rating, the EPA and the Energy Department’s highest rating, you can get up to $200 back. Looks like the appliance lobby worked a little harder than the auto industry lobby for this program. Here’s to wishing I owned some GE stock.
Like Cash for Clunkers, Roth says this benefits both he environment and the economy.
So one part is getting people to upgrade to more energy-efficient machines. And the other is to stimulate the economy by encouraging people to buy expensive stuff.
The program should begin in late fall.
I have some old shoes that are letting water in through the sole. This is causing me to have to dry my socks out several times a day, thus using electricity for the dryer. I need new shoes. Do you think my stimulus is coming soon?