Skip to main content

If trading in your gas guzzler for $4,500 off a new car was still beyond your budget, you could get cash back for a smaller-scale purchase by replacing clunker appliances in your home.

Nearly $300 million in stimulus funds are being devoted to state-run rebate programs for purchases of new Energy Star home appliances. 

“Appliances consume a huge amount of our electricity, so there’s enormous potential to both save energy and save families money every month,” said U.S. Department of Energy Secretary Steven Chu in a prepared statement. “These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy and create jobs.”

Each state will determine which types of Energy Star appliances will be included in their rebate program, such as central air conditioners, heat pumps, boilers, furnaces, room air conditioners, clothes washers, dishwashers, freezers, refrigerators and water heaters. States will also determine how much consumers will get back and how old appliances will be recycled.

TheStreet Recommends

States will receive funds based on how populous and hot they are and states must submit a list of qualifying products to the DOE by Oct. 15.

The $3 billion federal Cash for Clunkers program ends today, two weeks earlier than expected, as funds are depleted.

—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at