Like Cash for Clunkers, this new smart spending program gives you cash back in the form of rebates for swapping old home appliances in favor of “Energy Star” models. California residents get “$100 for washing machines, $75 for refrigerators and $50 for room air conditioners.” The rebates will be available through February, 2012, or until the funds are exhausted. You can find a complete list of rebates at energysavers.gov. (link / title fixed)
The older the appliance, the greater the possibility of saving money by buying a new one. McGuire says a 20-year-old refrigerator uses three times as much power as Energy Star-approved units made today, some of which run on less than 60 watts.