According to the Department of Energy, water heating is the second-largest utility bill behind space heating and cooling.
It accounts for roughly 18% of your monthly energy bills. But this energy usage could be decreased drastically by using a heat pump water heater, and now there are even smart options on the market.
Heat pump water heaters function by using electricity to transfer heat from one place to another instead of directly generating heat themselves. This process is highly efficient and could save a family of four up to $550 every year on heating water, as per the U.S. government.
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Smart heat pump water heaters are available thanks to the tech startup company Cala. These heaters operate based on the patterns of hot water use in each home and can even be linked to solar panels so that they only heat water when the solar panels are producing energy. This ensures hot water is available during periods of high demand and also minimizes costs, further saving you money and reducing the environmental footprint of your home.
Interested parties can pounce on federal tax incentives and rebates as part of the Inflation Reduction Act, which can help families install this energy-efficient upgrade. The IRA will cover up to 30% of the project's cost, to a maximum of $2,000, in tax credits for the 2024 tax year. Some households may also qualify for a rebate of up to $1,750 for installing a heat pump water heater depending on their location and household income.
Now is a great time to take advantage of these rebates and tax credits as the future of the program is uncertain. President-elect Donald Trump has repeatedly said he wants to eliminate the subsidies. No one knows how quickly this will happen — and it will take an act of Congress — so you could save thousands by taking advantage sooner rather than later.
"Our intelligent heat pump water heater is not only better at ensuring hot water is available and reducing cost, but also accounts for the other needs and goals of each homeowner," said Michael Rigney, CEO and co-founder of Cala Systems, according to Pulse 2.0. "Cala is a superior way to heat water."
"Other heat pump water heaters leave both money and emissions savings on the table because they don't use the core technology as effectively as possible," said Tom Ferguson of Burnt Island Ventures, which helped fund the company. "[Cala] has done remarkable work."
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