It's easy to forget that hot water doesn't magically appear from the faucet — and in fact, the energy that goes into heating it is one of the more expensive aspects of owning a home.
That's why many homeowners have migrated to heat pump water heaters (HPWH) in recent years. As opposed to traditional fuel-burning systems, HPWHs operate by drawing thermal energy directly from the surrounding environment to heat water. This both lowers a household's pollutive footprint and makes HPWHs vastly more efficient than other systems. Popular appliance brands like LG offer HPWHs as part of their trusted product lineup, offering a reliable way to maximize the efficiency of your home.
Critically, with improved efficiency comes lower costs for homeowners.
EnergyStar rates HPWHs as three to four times more efficient than traditional oil, propane, and natural gas heating systems. Heat pumps are also more efficient than electric resistance systems; the U.S. Department of Energy estimates them to be two to three times more efficient by comparison. This translates to roughly $550 in savings per year for the average household, EnergyStar calculated, slashing utility bills without the need to make any lifestyle changes.
For homeowners looking to make the switch, federal tax incentives are available through the end of the year to make the installation more affordable. If you act now, you can recoup up to 30% of the project cost at a cap of $2,000 per household.
States and localities also offer additional rebates and incentives, often reducing costs even further.
The HPWH you install can also make a difference in how much you save over time. For example, LG's 58-gallon HPWH model earns an exceptionally high 3.93 UEF rating from EnergyStar against an average of .63 to .95 for conventional water heaters, which means you can be confident that you're making a real impact on your energy consumption when you upgrade.
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