Dropped $300 on a heat pump water heater and my electric bill dropped 40%

I swapped out my old electric water heater for a Rheem heat pump model back in March. It cost me $1,200 total after install, but the rebate from my utility company knocked $300 off right away. My electric bill went from $150 a month to about $90, so it'll pay for itself in like 3 years. Has anyone else made the switch and seen similar savings?

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2 Comments

drew_grant525mo ago

My buddy in Ohio tried a heat pump water heater and his savings were more like 15-20% not 40%. Ive seen a lot of variation depending on climate and how much hot water you use. Take those big numbers with a grain of salt until you track it for a full year, especially if you live somewhere cold like I do.

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logan2995mo ago

40% drop off the bat" sounds wild. I'd side with @drew_grant52 on this one, you really gotta track it for a full year before calling it that serious, especially with the seasons changing.

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