Since the cash for clunker program worked out so well, word is out that you may soon be getting cash for your old appliances.

Oh, goody.  Maybe the next step will be cash for clothing and I can unload all those detestable outfits hanging in my closet.  I’m dying to unload that chartreuse jacket I purchased in 1999, but felt guilty about discarding because its never been worn and still sports the price tag.

And how about all those white elephants you purchased before your color scheme evolved from hot pink to purple.   Hold off before holding that garage sale!

In fact, hang onto all your junk, you never know when it might be redeemable for cash.  And if your refrigerator goes on the blink, you might want to eat out until November when the program is expected to launch.

Sounds great right? But surely there’s got to be some sort of catch…

The catch may be that each state, or territory, has specified which Energy Star certified appliance categories are available for its residents and the rebate level for each product type. Furthermore, each participating state or territory must develop a plan for recycling consumer’s old appliances, and determine exactly how the rebates for business owners will be processed.

So… How does the Cash for Clunker Appliances program work?

When the program officially goes underway, $300 million of stimulus funds from the American Recovery and Reinvestment Act will be available for consumers who wish to trade their less energy-efficient appliances, for state-of-the-art brand new appliances.

Although the new energy efficient appliances program is managed by the U.S. Department of Energy on an administrative level, participating businesses must follow the state level requirements and limitations.

Eligible appliances will provide consumers with between $50 and $200 towards the purchase of high-efficiency appliances, including dishwashers, boilers, freezers, refrigerators, washing machines, dryers, furnaces, water heaters, and air-conditioning units.

Dang, it doesn’t mention hair dryers.  Mine only works after I hit it twice on the vanity and I know it’s only a matter of time before it dies of physical abuse.  You never know, one day soon you might be able to turn in your spouse!