Craig Forman, a HeatSmart Alliance member, reports that he was able to replace his gas water heater with a heat pump water heater (HPWH) for less than it would have cost him to install a new gas water heater. Craig was able to save on the installation by doing some of the work himself. Also, Craig benefited from a Federal 25 C tax credit that will sunset at the end of 2025. Nevertheless, Craig offers tips that can potentially save those of you who are considering installing a HPWH some money.
In his detailed report, Craig provides tables that compare what he would have spent installing a gas-powered water heater with what he actually spent on installing a HPWH. He also does a rough calculation of the utility bill savings he achieved by switching to a HPWH, which come out to around 30%!
