When it comes to cutting energy bills, a Redditor in New York just showed how swapping out one home appliance can make a big difference. They installed a Rheem ProTerra 50-gallon heat pump water heater in late August, and by the end of September, the system had only used 45.12 kilowatt-hours of electricity.
That's a shockingly low number — as most traditional electric water heaters use 380-500 kWh per month for a similar household, or about 10 times as much — and it's a huge savings compared to the high cost of running an oil-fired boiler all summer just to provide hot water.
According to the homeowner, the $1,300-$1,400 investment (after rebates and credits) is already paying off. On top of comfort and reliability, heat pump water heaters can save households hundreds of dollars each year in operating costs.
For those thinking about making the switch, federal incentives make the upgrade even more appealing. You can save up to 30% on installation — capped at $2,000 — with a federal tax credit. There's also a rebate worth up to $1,750 depending on eligibility. But experts note that the 30% tax credits will expire at the end of 2025, along with many other credits such as the ones for solar panels and air-temperature heat pumps, meaning acting fast could save you more money.
In their post, the homeowner explained that switching away from oil felt like freedom. "Not having to keep the boiler on the entire summer is a huge win … I think I'm done with oil for good," they wrote. They indeed that between the water heater, heat pumps, and wood insert stove, they'll only be keeping oil equipment as a backup.
They're not alone in making the switch. The comments were full of others sharing their experiences. "It is so hard for me to wrap my head around areas that still use oil for fuel," one person commented.
"I average ~$7/month running cost … my $1150 Proterra became $500, which paid for itself the first year," wrote another.
"Had mine for 3ish years now. Absolutely amazing how much it cut my electric bill … we barely run the dehumidifier anymore so it's a double win," added another commenter.
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For those weighing options, TCD partner LG offers a wide variety of premium efficient water heaters designed to cut energy costs while reducing emissions. Upgrading to an LG system could help you see similar savings, while also helping reduce our dependence on dirty energy sources.
To save even more on your energy bills, solar panels can bring your cost of energy down to at or near $0. EnergySage provides a free service that makes it easy to compare quotes from vetted local installers and save up to $10,000 on solar installations. And for those not ready for the upfront costs, leasing in another path. LightReach from Palmetto installs panel for no money down and locks in low energy rates.
Heating and cooling is another major area for savings. Swapping your HVAC system to a heat pump can save you an average of nearly $400 per year on energy costs. Mitsubishi can help homeowners find the right affordable heat pump for their needs.
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Which of these factors would most effectively motivate you to buy a heat pump? Click your choice to see results and speak your mind. |
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