The tech costs more than conventional options upfront, but federal tax credits, new 120V models and strong savings have made them more appealing than ever.
They tried to push these here…I’d say that everyone inquired, less then 1% bought due to the ABSURD costs, and out of those 1% near 99% had issues with them after the fact.
Did you even bother to read the article? There are rebates to help mitigate the cost which significantly reduce the up-front costs and ROI.
Utility and local programs across the country are also giving consumers a financial boost to encourage them to switch to heat-pump water heaters. Check out the EPA’s Energy Star rebate finder for local incentives. It can be well worth digging them up; residents of Maine, for example, can get an instant rebate that allows them to buy a new heat-pump water heater for as little as $429.
There’s help even for those of us not lucky enough to live in Maine. All U.S. taxpayers can claim the 25C tax credit to cover 30 percent, up to $2,000, of the installation and equipment costs for a qualifying Energy Star heat-pump water heater. (The $2,000 limit resets annually and can be used toward heat-pump HVAC systems as well; you can get the full value of the tax credit for both upgrades if you do them in different years.)
Forthcoming rebates will also make heat-pump water heaters more affordable for lower-income families in the U.S., covering the costs of new heat-pump water heaters up to $1,750. State energy offices are working on how they’ll roll out their rebate programs, the earliest of which are anticipated to go live next year.
No I didn’t because I had actual first hand experience selling, installing, and uninstalling the things…over and over and over. I really don’t care what some dude at a desk has to say about my industry. We also had rebates from the government…the tanks themselves were pure garbage, didn’t work and the rebate process was a nightmare for the homeowner.
What you describe was true six or seven years back. The Inflation Reduction Act subsidies have done a lot to close the total-cost-of-ownership gap, and several makers gotten better over time.
I just got one here in the states, installed it myself to save money. Total was about $2.2k for 65 gallons, I’ll get $1k from the utility company as a rebate and tax credit (don’t know what this means to be honest), that plus more than halving my electric consumption to heat up water will pay off really quick.
I mean they are more upfront, but tend to cost less than half as much to run. The reault being that much like many modern electric appliances if you can afford the initial investment you will easily save money in the long run. If not, insert Terry Prachet quote about it being expensive to be poor.
They tried to push these here…I’d say that everyone inquired, less then 1% bought due to the ABSURD costs, and out of those 1% near 99% had issues with them after the fact.
We stopped offering them.
Did you even bother to read the article? There are rebates to help mitigate the cost which significantly reduce the up-front costs and ROI.
No I didn’t because I had actual first hand experience selling, installing, and uninstalling the things…over and over and over. I really don’t care what some dude at a desk has to say about my industry. We also had rebates from the government…the tanks themselves were pure garbage, didn’t work and the rebate process was a nightmare for the homeowner.
What you describe was true six or seven years back. The Inflation Reduction Act subsidies have done a lot to close the total-cost-of-ownership gap, and several makers gotten better over time.
No idea what rebate that is since I’m not American, but we did have rebates then as well. Still wasn’t worth it. Yes it was about 6-7 years ago.
I just got one here in the states, installed it myself to save money. Total was about $2.2k for 65 gallons, I’ll get $1k from the utility company as a rebate and tax credit (don’t know what this means to be honest), that plus more than halving my electric consumption to heat up water will pay off really quick.
That’s worth it then. I wouldn’t not push that. I was seeing bills of 5-8k for these things. With a 900-1.5k rebate
Where have you seen prices like that for residential? I haven’t seen anything over 3k, even on 80 gallon ones.
I mean they are more upfront, but tend to cost less than half as much to run. The reault being that much like many modern electric appliances if you can afford the initial investment you will easily save money in the long run. If not, insert Terry Prachet quote about it being expensive to be poor.