Water heaters are one of the biggest sources of energy consumption, second only to energy used to heat your home or business. Over the past few years, a new type of water heater, using Heat Pump technology, cuts water heating energy use by about 60% compared to standard electric storage water heaters.
If you’re thinking about replacing your water heater, or want to reduce your energy usage, now’s the time to consider a heat pump water heater. Now through December 3rd, 2014, you can save a total of $700 on the price of a new GE GeoSpring Hybrid Heat Pump water heater. This includes a $400 instant rebate at the time of purchase and a $300 rebate from OPALCO after installation.
A conventional electric water heater costs about $440 a year to heat water for a typical home. It can cost even more, depending on the size of home and family and water use habits (baths versus showers, etc.). In the same home, with a heat pump water heater, it would only use $167 in electricity – a savings of $272 per year, or over $3,000 over the lifetime of a typical water heater. If your water heater uses propane, the savings should be even greater.
To find out if a heat pump water heater is right for you, click here for helpful tools and resources. To learn more about the rebates, see information on the OPALCO rebate and the GE rebate, then check out the water heaters at Sears, Lowes, or any of these dealers. Make your best deal, and once installed, fill out and submit the OPALCO rebate form to receive $300 cash back.
Check out the GeoSpring water heater website to learn more about how heat pump water heaters work, locate a dealer, and calculate savings. Here’s a helpful video that explains how the GeoSpring water heater works.