Latest Stimulus Idea - Cash for Appliances

[atsimg]http://files.abovetopsecret.com/images/member/9d34b2303ec0.png[/atsimg]

A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it's probably not enough to lift companies such as Whirlpool (WHR) and Electrolux out of the worst down cycle in the sector's history.

Beginning late this fall, the program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. The money is part of the broader economic stimulus bill passed earlier this year. Program details will vary by state, and the Energy Dept. has set a deadline of Oct. 15 for states to file formal applications. The Energy Dept. expects the bulk of the $300 million to be awarded by the end of November. (Unlike the clunkers auto program, consumers won't have to trade in their old appliances.)

"These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy," Energy Secretary Steven Chu said in a statement announcing the plan. Only appliances covered by the Energy Star seal will qualify. In 2008, about 55% of newly produced major household appliances met those standards, which are set by the Energy Dept. and Environmental Protection Agency.

www.businessweek.com...

So they say that having new appliances will help be energy efficient and help the economy.

Let's be realistic here, it only helps the company that sells/makes the appliance.
Building a new appliance puts X amount of toxins into the environment so how does that help?

The government should just go ahead and give the companies blank cheques because that is what they are doing anyways.

Such a mountain of BS, I can't believe they are still in power.


[edit on 24-8-2009 by warrenb]

Thanks warren.

Something is in the air for sure. The US is headed GREEN. We will most likely see many more programs that will help us reduce our carbon emissions. So in the meantime I'm working on my carbon footprint as best I can. I just came back from a 3 day trip to the coast went quad riding and grilled with real charcoal.

reply to post by SLAYER69


I say keep your old appliances. Making/building new appliances just puts more pollution into the environment.

The only ones winning in this whole deal are the companies and mega corps.

reply to post by warrenb


Thats been around for YEARS!!!! that is nothing new. just contact your local gas or electric company and ask them about any rebates they have for getting an energy saving device....

If they want to stimulate the economy.....give money to the people

instead of these stupid stimulus ideas.....imo

I'd like to think that people are much wiser to this particular appliance rebate. Many stores will have their sales anyway. I recently went to a Sears store that's due to close and didn't really notice any more major bargains than the other Sears store I go to.

Even though, I had gone there for a supposedly 'refurbished' as-is lawn mower, the parts that were missing would have made up the difference and All Sales Final was stamped on my receipt and I hadn't even run the lawnmower yet.

Many deals by these stores are said to be inflated anyway. They haven't even finished with this last one yet. All of this seems kinda desperate, especially when some are forcasting another crash in October.

No matter what they come up with, something about it is stupid and or discriminates.

Next thing will be a lottery for not paying taxes the rest of your life. (hmmm)

The old ones run better and last longer than the new ones.
We'll be hanging on to the old stuff as long as we can.