Appliance expert explains 'one of the easiest ways' to slash your utility bills: 'The energy savings is massive'

If you're looking for a way to save money, it might be counterintuitive, but an investment in upgraded appliances can save you a shocking amount on your monthly bills, as one YouTuber recently illustrated.

The tip appeared on "Around the House NW," hosted by Eric Goranson on KPTV. His focus for the segment was one appliance in particular: a heat pump water heater.

"One of the easiest ways to make a lasting dent in your utility bill is by upgrading to energy-efficient appliances," he explains. "Today we're out of my brother's house out here in Cannon Beach and we're installing a water heater. Not just any water heater; we're going energy-efficient and we're going to install a heat pump water heater."

Goranson explains that the heat pump model uses much less energy than a traditional water heater. Where the unit he is removing costs about $494 per year to run and holds only 50 gallons, the new unit has a capacity of 80 gallons, yet costs only $193 per year.

"Yeah, it takes a little bit more space," he says, "but the energy savings is massive and there's a lot of rebates out there that pay for this."

The Inflation Reduction Act set up a system of rebates and tax credits to help homeowners upgrade to energy-efficient appliances like this one because they save Americans money while being good for the environment. Those rebates likely won't be available forever, but while they last, they are making better appliances affordable for households across America.

For even more savings, consider a smart water heater from a company like Cala. Not only does it offer all the benefits of heat pump water heater technology, but it also learns your schedule to determine when you'll need hot water. By heating water only when you need it instead of keeping it hot all the time, this unit can minimize the amount of energy used, which is ideal for your wallet and the environment.

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