If you've been considering upgrading to a heat pump water heater, this homeowner's review might be the final push you need.
Homeowner — as well as tinkerer and energy enthusiast — Darren (@CreativityUnleashed) shared a video review of his Rheem heat pump water heater after he had used it for two years.
The TLDR? He wouldn't go back to propane.
"The water heater has paid for itself in under 2 years and is on track to provide savings of more than $5,000 over the next ten years," he enthused in the video's caption. "The average monthly electric bill has been $5.50 for a family of 4," he added, referring to the cost of operating the heat pump water heater itself each month.
His new single-digit electric bill is a major price difference from his former propane hot water heater, which he said generally cost roughly $65 a month to operate. Anyone's own savings may vary by what they are replacing, but the savings of $60 per month over the propane costs would add up to about $1,440 across 24 months.
The units he's speaking about typically start at $1,700, making a claim that it paid for itself within two years only possible under his energy figures with the benefit of getting 30% of the cost back through the Inflation Reduction Act when purchased by the end of 2025. But in any case, seeing as how the brand itself and other brands making heat pump water heaters are marketing only slightly more modest savings of around $3,750 across 10 years when compared to standard electric models, rather than the more expensive propane he was using, it's not hard to see that the YouTuber's claimed savings are grounded in reality.
Heat pump water heaters, which are becoming increasingly popular and mainstream through top brands like LG, work by drawing heat from the air in their surroundings — as well as assisting with traditional electric heating when necessary — in order to warm water.
"They are amazing because they consume a fraction of the amount of energy of a traditional water heater," Darren emphasized. "When you're thinking about this from a savings perspective it's amazing, as well as when you're thinking about the environment and how much less electricity you're going to be consuming."
Stepping away from burning gas is another benefit of heat pumps and heat pump water heaters — reducing your home's pollution, lowering the risk of a gas leak or explosion, and resulting in cleaner air in your surroundings.
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And if you're not convinced by the utility bill savings, consider that there are many tax incentives and rebates currently available through the end of 2025 on the purchase of a new heat pump water heater. Homeowners can save 30%, up to $2,000 in tax credits, in addition to taking advantage of the rebates, as well as state and local incentives.
If you're looking to upgrade, check out LG's free tool to find appliance rebates based on your zip code that can be combined with these tax credits. LG offers a wide variety of heat pump water heaters for all homeowners, helping them lower their energy bills and home pollution at the same time.
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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. |
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