Outdated, conventional water heaters are becoming obsolete as modern, efficient heat pump water heaters emerge as the industry leader nationwide.
According to an Advanced Water Heating Initiative report, heat pump water heaters are expected to become a significantly more prominent player in the water heating market over the next few years. The report predicted that heat pump water heaters will grow from just 2.1% of water heater sales to more than 40% by the end of the decade.
Joseph Wachunas, program manager for the New Buildings Institute, which manages the initiative, wrote, "Heat pump water heaters are a dark horse in the technological arms race to save the planet."
This report and expert insight are significant because the residential water heating industry is undergoing rapid change at present.
Government policy shifts and appliance standards are driving the growth of heat pump water heaters.
For example, the Department of Energy set a new water heater standard in April 2024, mandating higher efficiency levels and phasing out old technology. Air quality agencies in some states are also beginning to outlaw appliances that run on dirty energy and release toxic fumes into the air.
Meanwhile, an increasing number of people and contractors are interested in energy-efficient appliances that save money on utility bills and have a low environmental impact.
Heat pump water heaters deliver significant energy bill savings, especially if you can still take advantage of federal tax credits. These incentives set to expire at the end of 2025 have saved homeowners 30% on heat pump water heater installation, up to $2,000 through tax credits, and an additional $1,750 rebate.
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When you upgrade to a heat pump water heater, you can further reduce your utility costs by powering it with clean energy from solar panels.
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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. |
Lower energy bills 💰 Beyond just heating your home's water, Mitsubishi can help you find an affordable heat pump to heat and cool your home.
When you're ready to embrace the nationwide trend and upgrade to a heat pump water heater, LG has a range of models to suit your needs. LG offers expert help to connect you with reliable and experienced independent contractors to install your new heat pump.
In his PHCP Pros article, Wachunas elaborated further on the benefits and challenges of this market shift toward heat pump water heaters.
"So buckle your seat belts," he wrote. "This transformative heat pump water heater technology may still be unknown to many, but it's about to reshape the way most of us heat water over the next decade."
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