Replacing Your Water Heater Soon?
When planning out home projects and brainstorming items that you’d like to upgrade in your home, a new water heater likely isn’t at the top of your list. Despite the fact that we use it every day for many purposes, your water heater is out of sight and out of mind – that is, until it stops working. Often, water heater replacement can be unplanned or happen out of necessity when your existing water heater stops working properly, whether due to age or other factors. To ensure you make the best decision for your home and save the most money, it’s important to understand your options ahead of time so that you don’t land yourself in “hot water” with an emergency replacement.
After heating and cooling systems, your water heater is the second largest energy user in your home and uses more energy than your refrigerator, clothes washer, dishwasher, and dryer, combined. Given this high energy intensity, planning to upgrade your standard water heater to an energy efficient heat pump model, specifically one that has been independently certified to earn the ENERGY STAR label, can help you save BIG on your annual energy costs.
While planning to upgrade your water heater might not be as exciting as other projects, the reduction in energy use can help you save hundreds of dollars annually. Compared to a standard electric water heater, an ENERGY STAR certified heat pump water heater can save a family of four an estimated $550 a year on their energy bill with an expected average lifetime savings of more than $5,600! Additionally, by taking advantage of financial incentives that are available to homeowners through the Inflation Reduction Act, you can save even more on replacement and reduce the initial cost of purchase.
To make planning for replacement easier, the experts at ENERGY STAR have compiled guidance to help you make the right decisions for your home. Explore the following articles to plan ahead for your water heater replacement and maximize savings:
- When Should You Replace Your Water Heater?
- Is a Heat Pump Water Heater Right for Your Home?
- What Goes into the Cost of Installing a Heat Pump Water Heater?
Looking for additional information on the benefits of water heater efficiency? Explore the ENERGY STAR website to learn more about this high-impact home upgrade that can help you save hundreds annually.
