cash-for-appliances

After the success of the Cash for Clunkers program, the Government came up with the Cash for Appliance program hoping for the same success. Beginning in 2009, the Cash for Appliance program offered rebates to consumers who purchased appliances that would make their homes more energy efficient. The program officially came to an end with the last of the 11 participating states on December 31, 2011.

The Cash for Appliance Rebate Program simply ended because the funds allotted through the American Recovery and Reinvestment Act were depleted. $300 million dollars were set aside from the Act to the program so that home owners and renters alike would be encouraged to purchase new, energy efficient appliances. The goal in mind was that by giving consumers this incentive, in this case a rebate, a sector of the economy would be stimulated. Since demand for energy efficient appliances would rise, manufacturers of those appliances would reap the benefits in profit and jobs. Whether or not the economy actually was stimulated as a result of the program is not yet known and may not be determined for another few months, but the program itself could be considered successful since its budget was completely expended.

As of February 2012, results of the program showed that 1.7 consumer’s did take up the Government on its rebate offer. At that time, $258 million of the $300 allotted had been paid out. The balance remaining was for those who had applied at that last minute whose paperwork had not yet been processed.