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Some Rebates Worth Checking Out

Updated on July 3, 2017
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Jack is currently a volunteer at the Westchester County Archives. Jack has worked at IBM for over 28 years.

Introduction

There are some rebate programs that can save you money. Especially in the electric utilities sector, by replacing an appliance that is more energy efficient, you not only safe in your monthly utility bill, you can receive a substantial rebate from your local power company.

- July 2017

Some Rebates...

  • Replacing energy efficient applicance can save up to $75 from your local power company.
  • discounts on LED bulb replacements

A Real Example...Do the Math

Suppose you have an old refrigerator that is over 10 years old. It is working perfectly fine. If you replace it with a new one that costs $600, you can save money in the long run.

Here is how.

You can qualify for a rebate of $75 from Consolidated Edison, the local utilities company. 600-75=525.

Your monthly utility bill may be reduced by up to 20% depending on the model and capacity and your usage.

Assume the utility cost stays the same over the next 10 years.

Your monthly average is $80.

Yon can save $16 per month. That is $192 per year.

You can break even in under 3 years of use. You can save an additional $1344 over the next 7 years assume the life of the refrigerator is on average 10 years.

There you have it in black and white.

Summary

I am not a big fan of coupons and rebates in general. It seems to be extra work for very little return. However, there are some rebate programs that are significant. One such program is offered by the electric utilities company. It makes total sense. They are in the business of providing electric power to a large community. They are the life blood of our society. If you doubt it, try living without power for a day or a week... With increasing demand on power, they must come up with a system that can accommodate the worst case scenario. For example, a hot humid mid summer day where all electric fans and AC are running full speed. It cost a lot of money for the power company to provide that extra capacity. It is more economical to offer incentives to people who uses the power. By replacing an AC or a refrigerator with a more efficient model, they can save up to 30% of power usage. That is significant.

© 2017 Jack Lee

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