July 30, 2014

$300 Million? When Will the Rebates Start?

Our article about the government’s $300 million dollar rebate program which is part of Obama’s economic stimulus package hasn’t begun and consumers across the nation are wondering if it is ever going to happen.

Unlike the $3 billion clunkers rebate blitzkrieg that boosted new-vehicle sales last summer, this program has proceeded more slowly and is aimed at longer-term household investments. It’s also being run differently, with each state deciding what kind of equipment will qualify for rebates.

The federal Department of Energy said last summer that only residential appliances that carry the Energy Star designation would qualify for a rebate. It suggested that rebates could be applied to water heaters, refrigerators, central air conditioners and other big-ticket appliances.

After talking with several people familiar with the program, it now appears details will be released by the end of the year on exactly the types of equipment each state will include in its rebate program as well as the amount of the rebates.

If you can’t wait for your state to start its program, you might want to look into the possibility of getting a Federal tax credit by visiting the government’s energysavers.gov.