The U.S. Department of Energy announced on Tuesday it will offer $300 million in rebates funding for consumers who purchase home appliances qualified by Energy Star.

The funds from the stimulus package will be allocated by each state's energy offices , which will select the appliance categories that will be included in the rebate program.

"Appliances consume a huge amount of our electricity, so there's enormous potential to both save energy and save families money every month,' Energy Secretary Steven Chu said in a statement today.

Energy Star qualified appliance categories eligible for rebates include: central air conditioners, heat pumps (air source and geothermal), boilers, furnaces (oil and gas), room air conditioners, clothes washers, dishwashers, freezers, refrigerators and water heaters.

Energy