One of a homeowner's favorite pastimes is determining how to save money on bills. Turning lights off, taking shorter showers, wearing a sweater rather than turning the heater on — you get the idea.
Fortunately, we live in a world that's increasingly developing more energy-efficient appliances. For instance, the heat pump water heater. This clever device heats water using the warm air around it, rather than heating air directly, as the ancient water heater groaning in your basement does.
This makes these things two or three times more efficient than traditional water heaters, according to the U.S. Department of Energy. So, that should mean pretty significant energy bill savings once a homeowner converts to a heat pump water heater.
A recent YouTube video shows how these heaters operate and why they're such miracle workers when it comes to energy efficiency. The video demonstrates how the machines function and how easy they are to dial in to your preferred energy use.
"This is where it saves you money," he says in the video. "When this is in heat pump mode, this unit only uses 500 watts of electricity, which is like 500-watt light bulbs if you had an old one. So this is super-efficient on heating water … about $171 a year to heat water."
That's in addition to rebates for the purchase of a heat pump water heater provided under the Inflation Reduction Act, as the federal government provides a 30% tax credit of up to $2,000 for the purchase and installation of one of these water heaters.
The future of those IRA benefits remains in some doubt, however, after President Donald Trump took action to stop funding, though any actual change to the program would require an act of Congress. So for the indefinite future, IRA incentives remain active if they were already approved in your state.
Heat pump water heaters are pretty easy to find these days — many companies make them. A good example is Cala, which makes a smart heat pump water heater that only warms water on demand, similar to a tankless water heater. This means a homeowner can avoid wasting money paying to heat water when they don't need it.
With the rising cost of, well, pretty much everything these days, saving money on energy bills is a no-brainer.
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