Over at Business Week, Mathew Boyle’s article discusses the latest stimulus package to boost sluggish sales in home appliances. You can read the article over there by clicking the link here.
- A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances
- When: late this fall 2009.
- The program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances.
- Only appliances covered by the Energy Star seal will qualify.
- There is no trade in value for old appliances.
Will a $50 to $200 rebate be enough of an incentive for cash strapped consumers to buy new appliances? Perhaps but it is not enough to stimulate a stagnant remodeling industry. Appliance manufacturers have always offered rebates and discounts to consumers without stirring up sales based on a rebate alone. People buy based on features and looks. The rebate is a bonus, but it does not drive the sale. $300 million dollar program for appliances? What would really sweeten the deal for consumers? Why not take advantage of the tax credits offered for installing energy efficient products? There are tax credits available for some home improvement projects. For more information on products that qualify for a tax credit see the link below.