"Cash For Appliances", The Next Cash For Clunkers?

You read right. A new Department of Energy program distributes $300 million in rebate funds to 50 states and 6 territorial offices for a new ENERGY STAR® appliance rebate program.

Not to be confused with the Cash For Clunkers or even the HVAC Tax Credits already in place through 2010... the Cash For Appliances program is not a centralized federal program, but instead a state-controlled rebate program that could vary widely from state-to-state. The program would qualify purchases of certain ENERGY STAR appliances for rebates. The appliances may include central air conditioners, room air conditioners, heat pumps, boilers, furnaces, refrigerators, freezers clothes washing machines, dishwashers, and water heaters. And yes, as a state-run program, the rebates from this program would likely be in addition to the already lucrative HVAC Tax Credits of up to $1,500!

States have until October 15th to propose how to rebate the funds they will receive to consumers. It is expected that the funds will be distributed very quickly, as we saw with the first week of the Cash For Clunkers program. In fact, it's very likely the rebates funds would actually run out before the end of November. Check your state's website for specifics on the program in your area.

So, wow. You do not have to be a brain surgeon to figure out that:
HVAC Tax Credits + Manufacturer Rebates + a Cash For Appliances state rebate = Mega Savings for consumers on the purchase of ENERGY STAR rated, high efficiency heating and air conditioning equipment. October and November may very well be the best time to purchase a heating and cooling system since their invention!