OLD ELECTRIC WATER HEATER
Purchase Price $400.00, plus installation
Estimated Energy Usage: 4,992 kWh/year
Annual operating cost: $420/year
Total Warranty: 6 years
Purchase Price $1,600.00, plus installation
Estimated Energy Usage: 1,856 kWh/year
Annual operating cost: $198/year
Total Warranty: 10 years
Have trouble reading beyond $1,600.00? ME TOO! But that's the trap we always fall into when comparing expensive, high-efficiency technologies over cheaper, less efficient options. The sticker price is only part of the equation-- operating costs over the life of the product can be far more important!
The GeoSpring is warrantied for a decade. Over those ten years of service, reduced energy consumption will save approximately $200.00 annually. Over the lifespan of the unit, owners will more than recoup the cost of the unit and then some. And the longer the unit stays in operation, the more fiscal sense it makes.
Taking the long view made the decision to purchase a hybrid water heater a no-brainer. But something sweetened the deal even further-- the availability of Federal Tax Credits for Consumer Energy Efficiency.