The program is expected to boost home appliance sales by offering rebates on those that are energy efficient.
Press Release Service – Wired PR News – Following the end of the cash-for-clunkers program, a new federal incentive program is in the works to take its place. As reported by BusinessWeek, what is referred to as the cash-for-refrigerators program, which will allow rebates to be obtained for purchases of energy-efficient appliances for the home, is set to begin in the fall. With the new program, a trade in of an old appliance will not be required.
Energy Secretary Steven Chu is quoted in the report as stating of the plan, “These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy.” The program is expected to generate revenue for the struggling home appliance industry.
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