Cash For Refrigerators

A new stimulus plan is in the offing, this time it is cash for refrigerators. This cash for clunkers type federal program amounting to $300 million from the federal budget is targetting to boost the sales of the home appliances makers who experienced the worst in its business cycle.

The program is part of the stimulus plan of the Obama administration which was passed early this year. The Energy Department expects most of the $300 million fund to be awarded by November. Energy secretary Steven Chu said that "these rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulates the economy".

But unlike the cash for clunkers program, consumers have to trade their old appliances. Who will qualify? Only those appliances with Energy Star seal will qualify or about 55% of the appliances in 2008 met this standard.

The cash for refrigerators will help the beleaguered Whirlpool, Electrolux and General Electric appliances makers.

So throw your old refrigerators and help the economy.