Every homeowner is looking to cut costs, and there are plenty of ways to do exactly that by making simple changes around the house. But there's a way to save serious money by making one big change. 

In a typical American home, heating water accounts for nearly 20% of the energy bill, but it doesn't have to. Upgrading to a heat pump water heater can save thousands of dollars over its lifespan compared to gas, electric, and oil or propane water heaters, and tax incentives included in the Inflation Reduction Act (IRA) can take a considerable chunk out of the initial cost.

The scoop

Heat pump water heaters save money because they use less energy to heat the water. This is because, rather than generating heat like other water heaters, heat pump water heaters transfer heat that's already in the air from one place to another. They basically use the same technology as an air conditioner or refrigerator, except in reverse. And, despite how it might sound, the transfer of heat does work in colder climates.

How it's helping

The IRA can help you get a tax credit worth up to 30% of the project cost (up to $2,000), and many states offer energy-efficiency rebates that are worth checking out and could add to your savings. If you want to take advantage of the federal tax credits, do so sooner rather than later. Although it would take an act of Congress to make major changes to the IRA, President Trump has repeatedly said he wants to eliminate such subsidies.

Besides the money you can save thanks to the IRA and lower bills every month, switching to a heat pump water heater has other advantages as well. Eliminating the burning of dirty energy within your home will reduce household pollution, allowing you and your family to breathe cleaner air.

On a larger scale, upgrading to a cleaner, more efficient method of heating your water will also help counteract the overheating of the planet.

Making a good thing even better, Cala has developed a smart heat pump water heater that can run even more efficiently and further decrease your electric bill. It learns your family's hot water usage habits and heats it accordingly, as opposed to working to keep a constant temperature at all times. On top of that, it uses predictive technology to heat water when electricity rates are lower in your area.

What everyone's saying

"I LOVE my heat pump water heater," one person who made the upgrade said. "It is helping us save money because it's more efficient, got the gas out of our house, and has worked like a charm."

Another homeowner who upgraded a few years ago said, "Heat pump water heaters, they are amazing."

Which of these factors would most effectively motivate you to buy a heat pump? Lower energy bills 💰 Better temperature control 🌡️ Helping the planet 🌎 I'd never buy a heat pump 🚫 Click your choice to see results and speak your mind.

Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.