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June 29, 2023
When savings are top of mind, the Rheem heat pump water heaters are here to deliver. They save you money as soon as they’re installed with the 25C residential tax credit (30% of project cost up to $2,000), local utility rebates and energy cost savings. They can save you money in the long run with energy cost savings adding up over time.
Article updated with new information on June 29, 2023
When savings are top of mind, the Rheem® heat pump water heaters are here to deliver. They save you money as soon as they’re installed with the 25C residential tax credit (30% of project cost up to $2,000), local utility rebates and energy cost savings. They can save you money in the long run with energy cost savings adding up over time.
Breakdown of the Savings
- Residential 25C Tax Credit – will provide 30% of the project costs (product cost plus installation) up to $2,000 in tax credits for qualified high-efficiency water heaters; visit our water heater incentives page for more information
- Utility rebates – check with your local utility company to find out how much they are in your area and use our Rebate Center
- Energy cost savings of $491 each year – that’s $4,910 over 10 years1
Quick Payback
Payback* is based on the average retail cost difference of a 50-gallon Rheem Hybrid Electric Heat Pump model to a standard electric water heater less available rebates, tax credits and annual operating cost savings.
Calculation: True Hybrid Electric Heat Pump Project Cost (Product cost + installation cost less tax credit of 30% of project cost up to $2,000) – (local heat pump rebates and incentives) – True Standard Electric Project Cost (Product cost + installation cost) = Total Payback Cost.
Payback Period in Years = Total Payback Cost divided by yearly energy cost savings.
Managing Your Savings
Managing Your SavingsThrough the built-in Wi-Fi technology and the EcoNet® app, homeowners can control and track their energy usage, adjust water temperature, set a schedule and change modes.
*Based on 50-gallon Rheem Hybrid Electric Heat pump model compared to a standard electric water heater of like capacity with minimum efficiency; Payback based on average retail cost difference less available tax credits, incentives, rebates and annual operating costs savings. 1 Based on estimated annual operating cost savings of the 40, 50, 65 and 80-gallon models.
Make Sure You Schedule Annual Maintenance
Annual professional maintenance is recommended for your water heater to maintain a comfortable home. Find a professional Rheem plumber or contractor near you:
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