GE Geosprings Hot Water Heater shows to be a great investment for homeowners

...links via Kevin Fretz, via Jay Fretz

Now, I am not a homeowner. I do not have the benefit of changing large appliances to save energy and money down the road, but I don't have a house to maintain at the same time! Anyways, one of the first things I would look at replacing before anything else would be my hot water heater. Your hot water heater takes an amazing amount of energy, and in most homes, have been there for a long time. I've stressed before the importance of replacing something when it needs replaced, and not sooner, but with large appliances that one has had around or that has been being used for a long time, sometimes replacing it with a more energy efficient item is a good idea, especially if it is close to the end of it's lifespan.

The new GeoSpring Water Heater Electric Heat Pump Water Heater from GE, is offering a 62% reduction in energy costs with this water heater. It is using ambient warm air around the device that is then filtered back into the heater, reducing energy used for heating. Also coupled with computerized energy management settings, this water heater isn't the old water heaters of yesteryear. The GeoSprings is carrying a Energy Star energy factor rating (EF) of 2.35, and does qualify for The Energy Economic Stabilization Act. The Energy Economic Stabilization Act offers a tax credit on qualifying Energy Star products. For hot water heat pumps this offer is through December 31, 2010 and is for up 30% off of your cost and instillation for up to $1500.  That could be up to a $450 tax credit depending on your final cost.  The GeoSprings Hot Water heater is retailing for around $1500, but with a chance to save $320 a year in just heating costs, and the tax credit, you could quickly break even, and start saving money. If you are currently a homeowner, and looking for a quick upgrade to your house that could save you money and energy over time, consider looking into this product. If anyone out there has any experience with this product, or changing out the water heater, let me know! I'd love to year from you.

Here are some useful links about the product and tax rebate information:

Tax Credit information for Energy Star Products:

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

The Product page from GE:

http://www.geappliances.com/heat-pump-hot-water-heater/

The GE GeoSprings for sale at:

Sears

Lowe's

---Justin J. Stewart (links via Kevin Fretz, via Jay Fretz)