OTTUMWA, IOWA -- If you need a new appliance you may want to wait until Monday to buy it.

Monday marks the first day in which the federal government is offering rebates for certain energy efficient appliances. 

The rebate funds are divided up by state and a limited amount exists for each state.

Iowa has nearly $2.9 million and Missouri has nearly $5.7 million ready for green buyers.

“The reason for buying an energy efficient appliance, one you're going to cut down on the energy consumption dramatically. Most of them you would be looking at 20-30 percent in savings,” said Chris McKeag, owner of Bridge City TV and Appliances.

McKeag does not expect the rebates to last long.

Purchasing a new appliance with this program may save you more money because some energy companies offer rebates as well.

“You can what we say double dip in it because most of the energy providers, Mid-America, Alliant Energy, they will also have rebates in addition to what you are getting now,” McKeag said.

Appliances bought before Monday will not qualify for the rebates. 

To see what appliances are available for rebate in your state or for more information, click here.