There's still time to upgrade your old water heater and save thousands of dollars in the process. Take advantage of federal tax incentives before the end of 2025 to claim your rebates.
The scoop
If you're thinking of upgrading your old water heater, now's the time to do so. Federal tax incentives are still available through the end of 2025, according to the U.S. Department of Energy.
After upgrading to a heat pump water heater, you can save $550 each year on your energy bills. Plus, if you make the switch before the end of 2025, you can also save 30% on your new heat pump water heater (up to $2,000 in tax credits) in addition to a $1,750 rebate. Simply fill out and submit an IRS Form 5695 when you file your taxes to claim these federal incentives.
Making the switch sooner rather than later could make the difference in saving thousands of dollars down the line. Tax credits and rebates under the Inflation Reduction Act, including many federal appliance rebates, are set to expire at the end of 2025.
While finding the right heat pump water heater for your home can be overwhelming, LG offers a wide selection of efficient water heaters. These energy-efficient heaters can not only save you money on your monthly bills but can also significantly reduce your household's environmental footprint. LG also connects homeowners with trusted independent contractors who can help with selecting a heat pump water heater.
How it's helping
By replacing your old water heater with a heat pump water heater, you're not only saving money but also helping the planet. Since heat pump water heaters are more energy efficient, your home will consume less energy, saving you money on your energy bills while reducing the overall pollution your home produces.
Heating the water in your home takes up nearly 20% of your home's energy. That's a significant amount of energy just going to one aspect of your home. However, heat pump water heaters are two to three times more efficient than traditional units, which makes a big dent in optimizing your home's water heating.
What everyone's saying
TCD readers who've already upgraded to a heat pump water heater are sharing their positive experiences.
Stay warm all winter long with the Apple of intelligent space heaters Kelvin is the Apple of space heaters, designed for energy efficiency and maximum comfort. It's completely silent and intelligently controlled, with setup taking just 5 minutes. Built from premium materials like aluminum and glass, Kelvin works beautifully as a full-home heating system or as the perfect solution for that one room that never feels warm enough. |
"I LOVE my heat pump water heater," one TCD reader from Oregon wrote. "It is helping us save money because it's more efficient, got the gas out of our house, and has worked like a charm."
"Love our heat pump water heater," another TCD reader added. "Ours is in our garage so it was an easy installation."
|
How old is your current water heater? Click your choice to see results and speak your mind. |
10 years or older 😬 
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.
Cool Picks
