Thousands Claim "Cash for Appliances"
Following up on the popular cash for clunkers program, the Obama Administration distributed $300 million in stimulus funding for state programs that encouraged people to swap old inefficient refrigerators, dishwashers, air conditioning units and other appliances for new Energy Star-rated models. While the name cash for appliances wasn't as catchy, it was equally popular, with state coffers exhausted quickly as customers flocked to claim their rebates.
The average home uses 13% of its energy bill to run appliances, plus another 17% on cooling and 43% on heating the air and water so the program should pay off doubly for those who took advantage of it, while reducing demand on the electric grid. The cash for appliances program was just one of many federal and state incentives available in 2010 that made energy conservation quite lucrative many home energy efficiency improvements qualified for a federal tax credit of up to $1,500.