Do you have an old electric water heater? Now is the perfect time to upgrade. In this article we will go over the benefits and cost savings you can receive when you upgrade your old electric water heater to a next generation heat pump water heater. When you combine available rebates with annual energy cost savings, you will find the upgrade will practically pay for itself.
How It Works:
A standard electric water heater brings cold water in through the dip tube and heats it using the electric heating elements inside of the tank. The hot water rises to the top of the tank and is then dispersed throughout the home for use. A heat pump water heater uses electricity to move heat from one place to another, like an air conditioner but in reverse, pulling heat into the storage tank from surrounding air.
Be More Efficient:
Standard electric water heaters are wasteful, using large amounts of energy to heat water. Heat pump water heaters use less energy to heat the same amount of water by transferring heat instead of creating it. You can reduce energy consumption by up to 60% compared to standard electric.
Energy Cost Savings:
A two person household can save up to $174 annually by using a heat pump water heater, whereas a family of five can save upwards of $435 in potential yearly savings. For example, with a 80 gallon tank, you can expect a 4.8 year payback on your upgrade investment. Also, factor in that many utility companies are providing rebates, like a $600 rebate from Inland Power & Light, $500 rebate from Modern Electric Water Company, $500 rebate from Vera Water & Power, or $215 rebate from Avista.
Perks Of A Newer Model:
Not only do next generation heat pumps come with higher efficiency ratings (3.55 – 3.70 UEF) but they also come loaded with modern features. These features include things like built-in smart monitoring technology. For example, in a Ruud system with EcoNet, you can monitor and control your system from anywhere using the mobile app. It also comes with a built-in leak detection system, smart monitoring of major system components, energy usage reports, and various energy efficiency operating modes.
In addition, all new heat pump water heaters also come with a 10 year warranty on the tank and parts. R&R Heating & Air Conditioning also backs the installation with our own parts and labor warranty, making sure that your new water heater is set to last.
Heat Pump Water Heater vs Standard Electric
For more information on the cost and installation of a heat pump water heater, reach out to one of R&R Heating & Air Conditioning’s comfort advisers. We can be reached at 509-484-1405 or you can fill out a form on our request an estimate page.