Homeowners Cash In on Clunker Appliances

The Car Allowance Rebate System, better known as "Cash for Clunkers," was a big success in helping car owners trade in their old automobiles for new fuel-efficient ones back in July and August. Will a similar program to entice homeowners to swap out their old home appliances for new energy-efficient ones be just as popular?

A handful of states are set to begin appliance-rebate programs this month, while a few already initiated them in December. Thanks to funding from the American Recovery and Reinvestment Act of 2009, consumers who want to replace their old appliances with new ENERGY-STAR-qualified ones will receive rebates to do so.