Early this year, the federal government will launch a cash for clunkers program that offers rebates for purchases of new efficient appliances. The success of the cash for clunkers model with the automobile industry is now spreading to a new arena -appliances . In much the same way that the automobile program was designed to reward Americans for buying newer and more efficient vehicles in exchange for old gas guzzlers, the new program will provide small rebates to people who are replacing old appliances with new ones.
We should expect to see a fairly noticeable campaign from leading appliance manufacturers and the stores that sell major appliances in the coming months. In addition to the government-sponsored rebate program, most people replacing dated appliances with new, more efficient models will actually realize a costs savings in terms of energy usage.
With Energy-Star rated products in particular, there are significant savings possible from the standpoint of water and electric usuage , especially with appliances like washing machines and refrigerators.
Although the original cash for clunkers program had its problems, it definitely drove sales of automobiles at a time when there would likely have not been near that level of consumer activity. And while the impact of the appliance program is expected to be fairly minimal in comparison to the automobile program, it will definitely have an impact and it will most certainly be a welcome boost to appliance manufacturers and retailers.
|By Buzzle Staff and Agencies