Cash for refrigerators

The Cash for Clunkers program has ended but a new stimulus program is about to begin. It's being called "Cash for Refrigerators," but it's for a lot more than just that. If all goes as planned, you'll be able to purchase high-efficiency household appliances much cheaper.

As it stands right now you won't even have to trade in your old appliance when you get the new one however it does have to be energy efficient.

The federal government has set aside $300 million dollars of federal stimulus money to dole out to folks who buy Energy Star products including washers, dryers, refrigerators, a/c and furnaces.  Experts say buying Energy Star, which means energy efficient, is good for you and good for the environment.

“There are two price tags with Energy Star technology you have the price tag of the product and price of your utility bill. With electric water and gas prices the average customer can save 10 to 50 percent on that technology,” says James Garner with Best Buy of Ocoee.

The Department of Energy is pushing conservation by asking consumers to replace their old appliances with the new.

It could be good for the appliance industry overall. According to the Association of Home Appliance Manufacturers the industry is slumping. It all started when the housing market slowed down in 2006.

The program would start in late fall and would allow rebates of $50 to $200 dollars to go towards your appliance purchase. Top that with incentives some stores are already offering and you could get a cool deal.

Program details will vary by state. Florida's Energy and Climate Commission says they still haven't hammered out the details of the plan. They have to have them approved by the U.S. Department of Energy by October 15th.