Switching to energy-efficient, smart appliances such as heat pump water heaters is one of the easiest ways to save money on your electric bills — and the government will even pay you to upgrade.
We all need hot water for bathing, washing dishes, and other chores, but it can be expensive if you have an outdated water heater. According to Energy Star, water heaters account for around 20% of a typical home's energy costs.
However, switching to a heat pump water heater could save you up to $1,000 annually on electric bills. Since these superefficient water heaters "use electricity to move heat from one place to another instead of generating heat directly," per Energy Star, they use much less energy.
In addition, you can unlock a 30% tax credit — or up to $2,000 annually — through the Inflation Reduction Act when you install a qualifying heat pump water heater, according to the Department of Energy.
Depending on your location and household income, you could also qualify for rebates of up to $1,750 when you make the switch, per Rewiring America.
While you enjoy lower energy bills, tax credits, and hot showers that don't turn cold after five minutes, the planet will benefit from reduced pollution. Most water heaters run on oil, propane, or natural gas, which produce heat-trapping gases that contribute to more extreme weather.
Even though electric models are more eco-friendly than the other conventional water heaters, they're still two to three times less efficient than heat pump water heaters, per the DOE.
If you upgrade from natural gas or propane to a heat pump water heater, you'll save your household from being exposed to toxic fumes that can increase the risk of asthma and other respiratory issues as well.
Many heat pump water heaters are on the market, but if you're looking for a cutting-edge model, consider checking out the tech company Cala. Their highly customizable water heaters feature predictive controls that will heat your water only when it's needed, thus saving even more on electric bills than other heat pump water heaters.
Cala estimates that its smart home water heaters can offer lifetime savings of up to $6,900 compared to oil and propane water heaters.
In short, investing in one of these amazing appliances is a major win for your health, wallet, and the planet.
"Already paid for itself with 650 bucks in rebates. And 30+ dollar a month savings. It's also a wonderful dehumidifier and basement air conditioner," one Reddit user commented in a thread on the topic.
"I have a 50gal hybrid in a 2/2 house for 5 years and and an 80gal in a 4/3 house for almost 9 years. Both units have already paid for themselves by the reduction in the power bills. It has been a WONDERFUL addition to Florida homes, even in the winter," another shared.
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