The Association of Home Appliance Manufacturers (AHAM) issued a press statement in which it applauds Congress on assembling a final stimulus bill which will provide $300 million to fund the Energy Efficient Appliance Rebate Program. This program, to be administered through the states, will provide an important financial incentive to encourage consumer spending and target it to energy savings through consumer rebates for the purchase of Energy Star appliances.
The consumer rebate will offset the cost differential between Energy Star and non-Energy Star appliances such as refrigerator-freezers, dishwashers and clothes washers. These savings, coupled with the lifetime energy savings, would more than pay for the total investment in the new appliances.
A consumer rebate program will result in dramatic savings for consumers. If every household in the U.S. replaced older appliances with Energy Star products, more than $10 billion in utility costs would be saved per year.
This rebate also provides an important benefit to the environment. By replacing appliances with Energy Star appliances, the U.S. could save more than 82 billion kWh per year.
“Retiring older, less efficient appliances with Energy Star products is the single most cost-effective step a consumer can take to save money and energy. This rebate program was a top legislative priority of the industry to help stimulate demand and provide immediate energy and utility cost savings to consumers,” stated Joseph M. McGuire, AHAM president.