Heat Pump Water Heaters
If you have an older gas or electric water heater, you need to know that the new electric heat pump water heaters from Rheem and GE are fantastic. We have been installing them around the North Atlanta and Marietta, GA Area.
These new electric heat pump water heater units cost about $1,400-1,700 from Home Depot or Lowes before tax, but can be found occasionally at outlets for $1,250. Once you add the tax in and factor in the 30% tax credit for heat pump water heater replacement, they’re closer to $930-1,285. Yes this is still quite a bit more than the $300-500 for typical gas or electric water heaters, but with a possible savings of $360/year +/-, $20-40/month, you’re to the good in just 2-3 years.
As a bonus, these new heat pump water heaters look like something that Jim from Star Trek would have in his house and will help sell it, as it looks way cooler and newer than the old gas or electric water heater that it replaced. We work with lots of home owners in preparing their home for sale, and this kind of up-grade says “I do it right”, so buyers are getting a message they like to hear when they see your new heat pump water heater all lit up.
Ok, here’s what you need to know. If you have an electric water heater now, you’ll love these heat pump water heaters, as they’re also electric, and work off the same 30 amp circuit and disconnect as your original standard electric water heater. The only extra costs besides the unit, is that the plumbing typically has to be moved to come in on the bottom left, and out on the top right, with the expansion tank and shut-off placed a bit different.
If Home Depot, Lowes, Sears, etc are doing the heat pump water heater install, hang onto your wallets. It will start at $200, but at $50 for every coupling, shut-off, expansion tank and leg of copper, you’ll end up way higher by the end. We charge $350 because we know it’s gonna be more work, but that’s way better than the $500-800 it can end up costing. You’ll also need to figure for about $50-100 of added install parts. Good news, the tax credit also covers the heat pump water heater install labor & parts.
If you currently have a gas water heater, choosing to do the electric heat pump water heater replacement is trickier. You’ll need a 30 amp circuit, panel breaker, disconnect box and probably some armored wire conduit for running the power from the panel to the water heater. If they’re close, it will likely be $200-500 to get this done. If they’re across the garage, $350-650, if on another floor and across the house?
To make it worse, since the gas water heaters are more efficient than the standard electric water heaters and gas is in less demand than electric, the monthly bill won’t drop $20-40, but more like $0-20. Add the electric circuit costs, subtract the 30% heat pump water heater install tax credit, divide by $0-20, and yup, it’s a long time to get your money back.
If you have an electric water heater now, our advice is don’t wait, do the electric heat pump water heater replacement. If you have a gas water heater, only do it if you’ll be in the house 5-10 years or live in an area / neighborhood where the “green” value added will allow you to recoup when you sell sometime soon.
If you need a lot of hot water, even a 50 gallon heat pump water heater will refill about as fast as you can use it. These things are high demand, get the water hot as fast as anything I’ve ever seen and give a tankless hot water heater or two a run for their money. In fact, speaking of tankless hot water heaters, if you think these electric heat pump water heaters cost a lot more than traditional gas or electric water heaters, go check out our page about gas or electric tankless hot water heaters, it’ll put it in better perspective.
If you’ve read this and are saying “hey, I may want to do the heat pump water heater replacement”, then call us at 770.591.4464 or click on the button to request an estimate. We love standing around after the water heater install, lights off in the garage or basement, just staring at the cool lights on these things…pretty
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