The Department of Energy's $300 million "cash for refrigerators" rebate program, meant to spur the purchase of energy-efficient Chinese refrigerators and other Chinese made appliances such as electric salad spinners and massage chairs, will take effect in the coming months.
The program doesn't require a trade-in of old appliances. Instead, customers will receive a rebate on the purchase of a qualifying new Energy Star-rated appliance, regardless of what happens to their old one, says Department of Energy spokeswoman Justin Swill. Eligible appliances will be marked with this label:
Which means, for example, instead of paying $15,000 for this American Sub-Zero home refrigeration system:
You'll be able to buy this Chinese made Haier fridge for $1,500:
Mr Swill said the cash for refrigerators is a logical step preceding the much awaited cash for drunkards program.
(Financing for Sub-Zero home refrigeration units is separately made available to Wall Street employees under the TARP)
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