Cutting down on monthly expenses is likely a top priority for many homeowners, especially with the skyrocketing costs of utility bills. Upgrading your water heater could help you save up to $600 on energy bills every year. Here's what you need to know.
The scoop
Upgrading to a heat pump water heater could help many people slash bills and save hundreds of dollars every year. Heat pump water heaters work by extracting heat from the surrounding air and using it to warm water in a storage tank instead of generating heat directly. They are significantly more energy efficient than traditional electric or gas water heaters because heat pump water heaters don't rely on burning fuel to produce heat, which means they can help significantly reduce your energy bills.
What's more, installing a heat pump water heater is relatively inexpensive thanks to federal and state tax credits and rebates offered as part of the Inflation Reduction Act. President Donald Trump has repeatedly said he wants to repeal the IRA, so it might be best to take advantage of the savings sooner rather than later. However, significant changes would ultimately require an act of Congress.
How it's helping
Families spend $800 to $1,000 annually on heating water at home, depending on the fuel they use and their location. Installing a heat pump water heater could help slash up to $600 off these bills compared to oil or propane heaters, up to $400 compared to electric resistance heaters, and up to $250 compared to natural gas heaters.
Switching to a heat pump water heater can not only save you money; it can also make your home more energy efficient, reducing the amount of harmful pollution generated by heating and cooling, which is better for the planet.
Smart heat pump water heaters, such as those offered by Cala, could help you save even more. These highly customizable water heaters understand a household's water habits and optimize energy usage accordingly. This not only reduces energy costs but also increases comfort by heating water as it's needed.
What everyone's saying
"When it comes time to replace your water heater, the best thing for your wallet and the best thing for the planet is just to buy a heat pump water heater," Michael Rigney, CEO of Cala, told The Cool Down.
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Got a ductless mini split? Swap your outdated remote for a smart controller to elevate your cooling experience Klima is a smart thermostat and controller that's very different to a traditional Nest or Ecobee. It’s designed specifically for ductless heating and cooling — like room A/Cs, window A/C units, and mini split heat pumps — regardless of brand or age. Klima helps you save on energy bills and make your life easier by automatically regulating your home’s temperature to exactly how you like it. You can even control your A/C from your phone and monitor usage no matter where you are. Learn more → |
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