MEMPHIS, TN - If you want to take advantage of Tennessee's “Cash for Appliances” program, you'll need to act fast. The state is offering rebates for people who buy energy efficient heating and cooling systems. It's the last state in the nation to offer the program. Applications began being accepted at noon Tuesday, and phones are ringing off the hook. If you call or go online to register for the program right now, you may get a busy signal or an overloaded website. The state says interest in the program is huge. But if you want the rebate, you want to go ahead and get in line.
“This is a great opportunity for home owners to increase their energy efficiency in their home and get the government to pay for part of it,” said John Conway of Conway Services.
Finally, the state of Tennessee is offering you cold hard cash to keep your home cool more efficiently. When you buy Energy Star rated air conditioners, air source heat pumps and gas furnaces, you can get a rebate of up to $250.
Conway says the energy efficient units may cost you 15 to 20-percent more up-front, but it will pay off.
“Not only the lower utility costs, but quieter systems, longer warranties,” said Conway. “It's really just the difference between, it's almost like buying a car, it's which model car did you buy.”
While other states started the program earlier and included everything from dishwashers to refrigerators, Tennessee is keeping it simple, saying it's the best way to cut down on energy use. You may also be eligible to get the federal tax credit for energy efficient home improvements.
“By just spending a little bit more money on the front end,” said Conway. “They can get a unit that gets not only the state rebate, but also the federal tax credit. When you combine those two then you can be somewhere around $1,750.”
But you'll have to act fast. Once the state's $5,660,000 is spent, time's up.
“With a limited amount of funds, you need to be one of the first ones to apply for that,” suggested Conway.
Tennessee's program was originally supposed to start April 22, 2010. So, if you bought an energy star cooling or heating unit since then, you're eligible for the rebate. Only one per household. The program ends February 17, 2012 or whenever the money runs out.
To apply for the program, call 1-877-741-4304 or visit them online.
