The pilot is being carried out by the Royal Borough of Windsor and Maidenhead.
It aims to reduce the amount of waste going to landfill and cut the councils landfill tax liability.
Wheelie bins will be weighed when collected and points allocated to each household. The bins will be fitted with an identification tag which will be read by an automatic reader on refuse vehicles. Each household is set up with a rewards account and the points they get are redeemable through a variety of local, regional and national outlets, termed reward partners.
The scheme will be run in conjunction with Recyclebank, which runs similar reward scheme in the UK, and the councils waste contractor Veolia Environmental Services.
Council sustainability lead member Liam Maxwell said: It will reduce our landfill tax liability and give residents rewards that they can use in local shops and businesses a great way to help the local economy.
The council plans to system-test the scheme with green waste in May and will then pilot the Recyclebank programme with commingled collections.
A maximum number of points will be available, to prevent abuse of the system by people generating extra rubbish for recycling.
Mayor of London Boris Johnson also hopes to promote the Recyclebank scheme to London boroughs. A Mayor of London spokeswoman said: We are also in intensive and detailed dialogue with several London boroughs with regard to them being the pilot boroughs for the scheme. The introduction of Recyclebank would need borough agreement to roll out, and we would envisage participation by householders to be voluntary. The Mayor does believe we need fresh thinking, in line with what Recyclebank offers, in order to boost London's recycling rate.