New York State is expanding its Great Appliance Swap Out, giving residents who purchase energy-efficient appliances a rebate. NY1's Tara Lynn Wagner filed the following Money Matters report.

Given the success of last summer's Cash for Clunkers program, several states are looking to use the same concept to drive consumers to purchase new, more energy-efficient appliances – and hopefully recycle their old ones.

Among the first to roll out the rebate program is New York, which in February kicked off the Great Appliance Swap Out. During the program's initial 10-day run, New Yorkers bought more than 24,000 refrigerators, about 2,000 freezers, 22,000 washing machines and more than 2,700 dishwashers.

“We had stores opening at 12:01 the first day of the rebate program. I know the stores in the Albany area, where I live, were busy all day long and in that sense it worked,” says New York State Energy Research and Development Authority President Frank Murray. “We spent nearly $8 million on appliance rebates in one week.”

But with roughly half of the state's allotted $16.8 million in federal funding still up for grabs, NYSERDA has extended the program until the money runs out.

To participate, New Yorkers must purchase a new, qualifying appliance that bears the blue Energy Star logo, fill out a short application, and a check will be on its way.

“[The checks] run anywhere from $50 to $555, depending upon how many appliances you purchase,” says Murray.

The refund amount is also based on how efficient the new products are. The maximum rebate is only available on the bundle package where you trade in all three appliances – refrigerator, dishwasher and clothes washer – for new ones that are not only Energy Star efficient, but also meet the stricter guidelines of the Consortium for Energy Efficiency.

While there have been some questions recently about the reliability of the Energy Star label, Ken Richmond, a store manager at a Home Depot in Long Island City, says consumers need only look at the yellow tag to see how much green the blue logo will save them.

“For example, if you are paying $33 in energy bills, the signs will say okay, if you're paying $33, you'll save $25 using Energy Star, or $10 using Energy Star appliances. They actually do save you money,” says Richmond.

“You can make a little green by investing in green is what I like to tell people,” seconds Murray. “First of all, this is a way to purchase the appliance more cheaply. But secondly, you'll be able to reduce your electric or your gas bill. And thirdly, you have the satisfaction of knowing you are doing something this going to improve the overall quality of the environment as well. So I think those are three pretty good reasons to participate in the program.”

For more information, visit NYApplianceSwapOut.com.