U.S. Department of Energy Secretary Steven Chu says nearly $300 million in funding is being made available for state rebate energy programs.

The American Recovery and Reinvestment Act funding will provide rebates for consumer purchases of new Energy Star-qualified home appliances.

"Appliances consume a huge amount of our electricity, so there's enormous potential to both save energy and save families money every month," Chu said in a statement. "These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy and create jobs."

Each state or territory must submit a plan specifying, which among other things, must state the Energy Star appliance categories that will be included in their rebate program, how the rebates will be processed and their plan for recycling old appliances. States must file an initial application expressing their intent to participate by Aug. 15, followed by a full application by Oct. 15. Officials said approximately 10 percent to 25 percent of each award will be spent on administrative costs.

The Energy Star labeling program helps consumers make energy smart choices by identifying the most energy efficient products, officials said. The program is a joint effort of the U.S. Environmental Protection Agency and the U.S. Department of Energy covering more than 60 product categories.