Although there are similarities between the programs the Cash for Clunkers appliances program which is actually a part of the economic stimulus and Recovery Act does not require a trade-in to be made in order for consumers to qualify for the appliance rebate.
With the main focus being on stimulating the overall economy in the nation by providing an incentive to consumers to go out and buy new appliances in an economic climate which is less than bright this program is fairly popular. However the more secondary purpose behind the appliance rebate incentives is to attempt to slowly persuade consumers to get rid of their old appliances and start using newer more energy efficient models which would possibly have an effect on the amount of energy being consumed once again saving the consumer money on their monthly electrical bills.
When you upgrade your old appliances to newer models which have better overall ratings when it comes to actual energy consumption the main idea is that you will see the most significant savings from a yearly standpoint as opposed to just a monthly standpoint. For example when you see a few dollars saved on your electrical bill after you had a couple of new Energy Star compliant appliances installed it may not seem like all that much money and it isn’t. However when you look at it from the standpoint of a yearly savings you see a much larger number and it is very common for this number to reach well into the triple digits over a years time.
Ultimately within a given number of years the new appliances may even completely pay for themselves through the savings which they have provided. This is an incentive in its own right for many people who plan on living in their current home for many years into the future. Keep in mind that in order to qualify for the appliance stimulus rebate you are not required to have an old appliance to trade in. You may just want to take the old ones and sell them as your own cash for appliances rebate as a little extra bonus which is exactly what many of the consumers are likely going to be doing.
