Cash for Appliances Update: Bigger rebates generate greater consumer interest
If Iowa and Minnesota are any indication, the more generous the rebate in the U.S. Department of Energy's $300 million State Energy Efficient Appliance Rebate Program, the faster the money tends to go. Both states exhausted their cash for clunkers for appliances funding in a single day. (Iowa doled out $2,881,000; Minnesota, $5,009,000.)
Such demand may explain why Florida is requiring residents to reserve rebates for the sizable 20 percent givebacks through its $17,585,466 Energy Star Appliance Rebate Program, which runs April 16-25. "We don't want a lot of disappointed people," program manager Brenda Buchan told The Palm Beach Post.
Several other states, including Pennsylvania and Texas, are also requiring reservations, perhaps a sign that there's pent-up demand for appliances among consumers. Indeed, based on the latest Consumer Reports Index, the major-appliances category was one of only two where consumers spent more in February.
Essential information: Get the latest information from the cash for clunkers for appliances Web site in your state. Also check out our cash for appliances buyer's guides to dishwashers and washing machines and find out where to buy appliances.
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