Cash for clunker appliances

This article is by Jen A. Miller who has tackled topics in real estate, personal finance, conservation and travel for The New York Times, The Philadelphia Inquirer, Woman’s Day, Men’s Health, Interest.com and Edible Jersey, among others

Ready to ditch that old clunker of an appliance? Here’s another incentive: Now you can get extra cash back for switching to a model endorsed by the Energy Star program.

Like the popular cash-for-clunkers auto program, the appliance rebates are federally funded; the amount of cash you’ll get back varies state to state. Keep an eye on the Department of Energy’s Energy Savers website and the Energy Star website for outlines of your state’s plan. Check the information soon, as some rebates will be used up quickly, and not all states begin the rebates at the same time.

Here are few items that are up for rebates:

Hot-water heater

Heating water can suck a lot of energy — and money — from your home. The typical family spends $400 to $600 year for hot water, according to Energy Star, the government program that tests major appliances for energy efficiency, and labels the top performers with its star of approval.

“Many hot-water heaters are not only inefficient in how they heat water, but they also may not be properly insulated, so heat is escaping off the sides,” says Leah Ingram, author of Suddenly Frugal: How to Live a Happier and Healthier Life for Less. You’ll find the most savings if your hot water heater is more than 10 years old.

Refrigerator

If your refrigerator was made before 1993, you’re spending more than $100 a year to run it, according to Energy Star.

“Your refrigerator uses the most energy of any of your household appliances,” says Jodi Helmer, author of The Green Year: 365 Small Things You Can Do to Make a Big Difference. A fridge can suck up 11 percent of your household energy use — it is, after all, the only household appliance that runs 24/7. New refrigerators are also quieter, says Helmer, because they switch on and off less often.

Washer/dryer

Not only can you drop your energy bill with a new clothes washer, but you can lower your water bill, too, if you pay per gallon for water and sewer.

“A top loader uses 40 to 50 gallons of water, and a front loader only uses about 15 gallons,” says Ingram. Front loaders are more gentle on clothes, too, which can make your threads last longer.

While most folks buy washers and dryers in sets, you won’t see a significant savings if you replace the dryer, says Helmer. “The difference is so minimal that Energy Star doesn’t label clothes dryers.”

Dishwasher

If you don’t have a dishwasher, buying one now can cut your water usage and water bill since dishwashers use less water than if you are washing by hand. Even if you already have a dishwasher, models sold since 1994 use 31 percent less energy and 33 percent less water.

A delayed start option, available on newer models, can save you money, too. “If you have a power authority that offers cheaper rates overnight, you can schedule your dishwasher to run overnight,” says Ingram. They’ll use the same amount of energy but you’ll be paying less because your energy rate is less.”

Get the best deal

Ingram points out that you won’t instantly recoup the cost of your new appliance through energy and water savings. “It often takes the life of the appliance to get the payback,” she says. “But if you’re getting a significant rebate from the government, that’ll speed up the payback time.” And if you were already considering replacing your clunker? The extra rebate a great incentive to get shopping.

1:09 PM - Feb. 20, 2010 - comments {0} - post comment

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