Hybrid water heaters eligible for state tax credits
Homeowners in Oregon can combine rebates and tax credits to save up to $1,100 on an energy-efficient water heater.
Through Dec. 4, 2013, Smart Water Heat, an initiative of the Northwest Energy Efficiency Alliance (NEEA), is funding a $200 instant rebate for residents in Idaho, Montana, Oregon and Washington to make the GE (NYSE: GE) GeoSpring water heater more affordable.
In addition to the instant rebate, a combination of state and federal tax credits up to $900 are available to help Oregon homeowners recoup the cost paid to own an advanced water heater.
Many homeowners don't realize their water heater is the second biggest energy-consuming appliance in their home.
Initiative Manager for Smart Water Heat at NEEA Jill Reynolds said, "Most people wait until their water heater fails to upgrade to a new product. This time of year, the Smart Water Heat program is providing instant rebates for this product in collaboration with its utility partners and GE to help consumers take a proactive approach to upgrading their water heater."
Hybrid water heaters like the GeoSpring reduces energy waste, decreases water-heating costs and ultimately can save an average consumer $365 per year throughout the life of the product.
"With GeoSpring's advanced heat pump technology, a consumer can save over $3,000 in a 10-year span. The savings can be used toward a vacation, shopping spree, home improvement or rainy-day fund," said François LeBrasseur, GE marketing manager for water products.
Check out rebates and credits available in your state at the DSIRE database.
Read more about tax credits and rebates.