Consumers will received a $200 rebate for a fridge, a $100 rebate for a washing machine or a $50 for a room air conditioner.
But you must act quickly because the rebates are offered on a first-come, first-serve basis.
Sears opened its doors at 6 a.m. Thursday, and customers were lined up and ready to get deals.
"We want to take advantage of the rebates that are going on, and we know they run out quick," said customer Leticia Tejeda.
The program is modeled after last year's federally funded Cash for Clunkers deal, which offered people the chance to trade in old vehicles for fuel-efficient ones.
Many retailers, such as Sears, are also offering sales of up to 30 percent. Throw in existing rebates from utility companies, and the savings can really add up.
Customers who make purchases will have to mail in their sales receipts by June 25 and prove that they disposed of their old appliance with a retailer or with a certified recycler.