Author Topic: 110% ROI on a new water heater!  (Read 2245 times)

Johnny Aloha

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110% ROI on a new water heater!
« on: October 18, 2013, 04:06:03 PM »
After reading the last article on energy efficiency, I discovered heat pump water heaters.  After some quick research, I discovered my hot/humid climate and high electricity costs make it the ideal location for this machine, so I purchased one immediately!

GE advertised the annual savings as $325, but our savings will be higher since we pay the highest electricity rates and our energy usage is mostly from the water heater (no A/C, dryer, heat, or dishwasher).

Here are the numbers:

- purchase price $999 (on sale, normally $1199)
- $300 fed tax credit and $200 local utility credit
- total cost (including tax & delivery) is $524
- planning to sell old water heater for $100, so cost comes down to $424

Based on our electricity cost ($0.33/kWh) and actual usage, I'm sure we'll save at least $40/month.

Wanted to share so others can jump on this too!  But be careful, the benefit of these is best in hot/humid climates (California, Hawaii, the south).  They are not as beneficial in places like Idaho, North Dakota, etc.  A detailed analysis can be found here: http://www.nrel.gov/docs/fy13osti/58594.pdf and http://www.pnnl.gov/main/publications/external/technical_reports/PNNL-22642.pdf

gimp

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Re: 110% ROI on a new water heater!
« Reply #1 on: October 18, 2013, 05:22:34 PM »
Awesome. That's a gift that keeps on giving!

Just out of curiosity, what are approximate maintenance costs over its lifetime, and what is its approximate lifetime?