Go Green Appliance Rebate Program Hopes to Stimulate Economy in New Year
My co-host on our Monday Morning Show “Making God First Mondays”, John Heerhold, brought this up since he just bought new appliances and didn’t know there was a government rebate program starting. I thought I’d share with you all too!
With the new year, Illinois residential consumers may qualify for a new rebate program if they buy energy efficient appliances. This is a national program but each state has it’s own rules and ways to administer the appliance rebate program.
Last year’s federal stimulus package set aside $300-million for the appliance rebate program. Illinois with get about will get about $12 million of that.
Here is what it says on the U.S. Department of Energy’s website for Illinois residents:
The State of Illinois will implement a two-phase instant rebate program to help residents replace older, inefficient appliances with ENERGY STAR® qualified models. The first phase is tentatively scheduled to run in January 2010. Consumers can receive rebates through heating, air conditioning, and water heater contractors on eligible products. The second phase will begin on Earth Day 2010, when consumers can receive rebates on ENERGY STAR qualified appliances at select retail locations.
Eligible products include
- Refrigerators
- Freezers
- Clothes washers
- Dishwashers
- Room air conditioners
- Gas condensing water heaters
- Gas storage water heaters
- Gas tankless water heaters
- Heat pump water heaters
- Gas and propane furnaces
- Gas boilers
- Central air conditioners
- Air source heat pumps
To receive new product rebates, consumers must purchase from “participating” retailers. Consumers can receive an additional mail-in rebate with proof that they have recycled the old appliances.
Contact: Illinois Department of Commerce and Economic Opportunity, Bureau of Energy and Recycling
Total Funding: $12,379,000
How much can you get?
Generally speaking, the larger the energy savings of a product, the larger the rebate. It’s expected that the rebates will range between $50 to $ 250 per appliance but unlike the “Cash for Clunkers” program, consumers will not have to turn in their old appliances in order to buy a more efficient one and to qualify for the rebate.
For products that have refrigerants in them, customers will have to show proof of recycling the old appliance before they can get the rebate. But many retailers have promised to help with recycling.
What is the possible long-term savings for a consumer who purchases a new appliance?
For example, replacing an eight-year-old washing machine with an energy-efficient one, consumers can typically save 5,000 gallons of water and 600 kilowatt hours of electricity per year, which is about $78 in annual savings. Replacing a refrigerator made before 1993 with a new ENERGY STAR model can save up to $65 per year. Do the math in how long this type of savings with pay off for you…in most cases, it will take several years down the road.
In my opinion, unless you really need it, don’t buy it…and definitely DON’T finance it or put it on a credit card if you know you can’t pay it back within the grace period!
What did we learn from the Cash for Clunkers program?
Remember, this is still OUR money we are spending here. This is taxpayer money…in advance. This is NOT FREE money that we, as Americans, collectively still have to pay back. This is also a REBATE, not a tax credit.
For more info:
http://www.energysavers.gov/financial/70020.html
P.S. A big SHOUT OUT to FOX Radio and it’s national affiliates who allowed me to come onto their morning shows to discuss this…you guys ROCK!
WTAG Worcester, MA
WHAS Louisville, KY
WKBN Youngstown, OH
WFLA Tampa, FL
WSYR Syracuse, NY
WOAI San Antonio, TX
KTRH Houston, TX
KFBK Sacramento, CA
KTRH Houston, TX
KNST Tucson, AZ
KURV McAllen, TX
KMJ Fresno, CA
