Cash for Clunkers, the appliance version

You could soon get your piece of a $2.7 million pie. It's money to help Arkansans replace their old appliances with new, energy-efficient ones. The Department of Energy is dispersing $300 million in rebate money across the country. And the Arkansas energy office is working on its proposal for how the program would work in Arkansas. The money could come as soon as this fall.

Ella Gilbert came to Home Depot to get ideas for updating her house. Built back in 1965, some of the appliances are ancient. Gilbert said, "My appliances use a lot of electricity. My electric bill is very high and I need to cut my electric bill."  It may cost her about $8,000 to make everything energy efficient. But she says government rebates would make a world of difference, especially these days. "Electric bill, your gas bill is higher, your water bill. My water bill doubled," Gilbert told us.

Senator Blanche Lincoln said, "Appliances have an ability to make a tremendous effect on energy conservation." That's why the federal government is plunking down $300 million to be dispersed across the country. Lincoln says the program will help protect the environment and energize the economy in addition to helping individual Arkansans.

"Anything you can shave off your cost of living expenses is going to help," said Steve Bailey with Home Depot. Bailey says you can save anywhere from 20 to 40 percent on your utility bills by upgrading from old energy hogs to new appliances.

These days they're designed to use less electricity and water and they're insulated better too. Look for the Energy star label and stickers that show how much energy the appliances require. Just because an appliance is energy efficient, doesn't mean the price has to be out of control. For example we found one dishwasher that cost $219 and it has the Energy Star label.

In addition, many stores offer discounts if you by an energy saver. That sounds good to Ella Gilbert and she can't wait until the government rebates come through. "I hope they look for me so I can get some new appliances," she said.

Those with the governor's office say Arkansas' plan isn't completely worked out yet, so there's no word how much of a rebate you might get. But unlike Cash for Clunkers the money will be dispersed by the state, not through stores. Rebates could be available as soon as late October or early November.