With utility rates on the rise, homeowners may be looking for new ways to save money on monthly bills. Heat pump water heaters can save consumers a fair amount in the long run while improving our environmental outlook. And there's even help available to get buyers over the hump of the costs to upgrade.
The scoop
Heat pumps work by using an electric-powered compressor to move heat from one place to another. Even in colder weather, they can absorb warmth from outdoors and transfer it inside. They can similarly absorb heat inside the home and transfer it outside during warmer seasons.
It's the same technology used in fridges and air conditioners, except the direction can be reversed. And while heat pumps are often used for home climate control, they can also be used to heat water tanks.
How it's helping
Heat pumps can be more efficient than burning fossil fuels or even using electric resistance heaters for home temperature control. That efficiency translates into cost savings, reduced home energy pollution, and even improved health, as dirty energy sources can impact air quality and contribute to conditions like asthma.
Upgrades can come at a premium, and heat pump water heaters do tend to be more expensive than traditional tanks. Luckily, the Inflation Reduction Act includes programs to lower the barriers to access for a number of energy-efficient systems and appliances. For example, the IRA can knock up to $1,400 off the price of a heat pump water heater in both rebates and tax credits.
It's worth noting that President Donald Trump has indicated a desire to do away with IRA incentives. As of publication, they're still available, and legally it would take an act of Congress to eliminate these programs. But consumers who want to take advantage of the reduced costs that could help put them on the path to even more savings down the line may want to consider acting sooner rather than later.
What everyone's saying
There are a lot of companies making great heat pump water heaters. Cala will be releasing its highly-customizable smart system soon. It uses a variable speed compressor that can dial in to meet your home's water needs specifically — that way, it's not wasting power by overworking.
A flow monitor helps Cala predict when hot water will be used in your home so it can start preheating earlier and take advantage of lower electric rates when they're available. That prediction can not only save you money and reduce home energy pollution, but it can also increase comfort for anyone who hates waiting for water in the shower to warm up.
Cala's system costs $2,850 before rebates and tax credits, but the company estimates that owners could save more than $6,500 over the system's lifetime when compared to an oil or propane water heater.
As Cala CEO Michael Rigney told The Cool Down in an interview last fall, "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."
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