When it comes to saving money on your power bill, there are a lot of small steps you can take around your home. However, the real savings come from investing in an equipment upgrade.
The scoop
While it might seem counterintuitive, Consumer Affairs recently broke down the math that makes a heat pump water heater thousands of dollars cheaper than a traditional one in the long run.
"Electric water heaters account for an average of 18% of your electricity costs, according to the Department of Energy," explained Jonathan Trout at Consumer Affairs.
"A heat pump water heater is a more efficient option," Trout continued. "As Sarah Widder, formerly of the DOE's Pacific Northwest National Laboratory, explained, these pump water heaters can use up to 63% less energy than traditional electric water heaters."
That reduced energy usage shaves about $330 per year off your energy bills for a family of four, Trout continued. Since a typical heat pump water heater lasts 13 to 15 years, that's around $4,000 to $5,000 in energy savings.
A typical 50-gallon heat pump water heater found at Lowe's cost $1,950, while a comparable electric water heater cost $560, but the initial higher cost is more than worth it in the long run.
A heat pump water heater will also last longer than a traditional model's eight to 12 years, so it's a good return on investment. Not only that, but the Inflation Reduction Act offers incentives to help Americans afford eco-friendly appliances like these.
If you intend to take advantage of the IRA's benefits, acting sooner than later may be advisable. President Trump has outlined plans to push for an end to the financial incentives, although any changes would require an act of Congress.
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 Swap your outdated remote for a smart controller to elevate your cooling experience Klima is a smart thermostat and controller that's very different to a traditional Nest or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 → |
How it's helping
Besides saving homeowners money, improving the energy efficiency of your home is good for the environment. It means you're causing less air pollution in the long run, which means less heat-trapping gas in the atmosphere and less overheating of the Earth.
If you go from a gas water heater to a heat pump water heater, the change is even more dramatic, since gas produces air pollution directly, while an electric appliance can run partially or fully on clean energy.
|
Which of these factors would most effectively motivate you to buy a heat pump? Click your choice to see results and speak your mind. |
Lower energy bills 💰 If you want to maximize your positive impact, you can choose a smart water heater from a brand like Cala. These don't just use less energy to heat your water; they also learn your schedule to heat water only when you need it, so they make less hot water in total throughout the day. This saves even more energy, maxing out your savings and minimizing pollution.
What everyone's saying
Consumer Affairs shared a positive comment from a reviewer in Canada. "Have been running it on heat pump only mode for two weeks now and have experienced consistent hot water," they said. "Just fantastic and our natural gas bill has dropped significantly."
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.
