Remember the Cash for Clunkers program? Well, the government is at it again, this time implementing a program – aptly named Cash for Appliances – that offers consumers rebates on new, energy-efficient appliances. Refrigerators, washing machines, and other household appliances manufactured prior to the 1992 inception of the Energy Star program use twice as much electricity as new Energy Star-rated models.

This little logo can save you big bucks...

Announced last year, the program has been allotted $300 million from the American Recovery and Reinvestment Act and the rebates are applicable on most appliances with the Energy Star logo. The logo indicates that the appliciance meets strict energy guidelines mandated by the EPA. While the amount of each rebate varies according to the state, type of appliance, and its level of efficiency, it’s been reported the rebates range from just $75 to more than $500.

Since each state was allotted a different amount and allowed to implement the rebate program as they see fit (which had to be approved by the Department of Energy), the program is available at different times in different states. Kansas has already run out of its allotment but other states – including New York, California, and Georgia – are just starting the program (find out about your state’s program here).  In most states, the rebates can be used in conjunction with incentives on energy-efficient appliances that may already be in place.

The objective of the program is two-fold: to not only help conserve energy in American homes but to boost retail sales amidst the still-sluggish economy.  So if your old fridge is about to kick the bucket, ask about the Cash for Appliances program, which can put more money back in your pocket. Saving money while simultaneously making your home a little greener…what’s not to love?