Wayne-White Counties Electric Cooperative has been stocking and selling the GeoSpring Hybrid Heat Pump Water Heater for our member/customers at the special sale pricing of $1199 that we talked about in a recent issue of Cooperative Newsletter.  This means that your actual cost is $799 when you subtract the $400 Wayne-White/Hoosier rebate, however, the federal tax credit ended on January 1, 2012.  You can still achieve a payback of two and a half years based upon cost usage data that we have supplied you with from both federal testing and localized usage at other Hoosier-member electric cooperatives.  You will then continue to save $30 a month on the cost of heating the water for your home compared to standard electric water heaters.  This unit is 253% efficient compared to 94% for other water heaters.

This high efficiency state-of-the-art heat pump water heater enables you to enjoy hot water in your home for well over $300 a year LESS than traditional style water heaters and we have localized cooperative data to prove it from a neighboring cooperative in Indiana, in addition to national data from the U.S. Department of Energy.

How Much Can You Save?
It’s not uncommon for many homes to spend over $550 a year on heating their water ($45.83) a month.  Usage varies slightly based upon the number of family members as well, number of showers, laundry loads, etc.  The Department of Energy (DOE) tested the GE GeoSpring Water Heater and found that it consumes an average of 1856 Kwh per year compared to 4879 kwh per year for a standard water heater they tested.  Based upon our current rate of 12.1 cents per Kwh, that’s a savings of $360 per year ($30 a month) on your electric bill by replacing your standard electric water heater with the GE GeoSpring Hybrid Water Heater. 

What Does it Cost and What is Your Payback Time?
The current pricing at Wayne-White Electric Coopeative is just $1199.  Subtract the $400 rebate from Wayne-White/Hoosier and you pay just $799.  With an annual savings of $360 described above, your new GE GeoSpring Hybrid Heat Pump water heater will pay for itself in just two and a half years and then it will continue to save you $30 a month on your electric bill because it is 253% efficient at heating water compared to 94% or less on standard electric water heaters.  It has a warranty of 10 years and is backed up by GE and their team of service experts at 1-800-GE-Service, which is used by consumers for other GE appliances such as refrigerators.

Are There Any Negative Concerns or Special Requirements?
The GE GeoSpring Hybrid Water Heater works on a standard 30-amp breaker like you are currently using and takes up the same footprint as your current water heater. It also includes two electric heating elements, a pressure relief valve, an internal porcelain-lined tank and an anode rod.  But what truly sets this product apart is just above the tank. Because it is a hybrid, it features the GE patented heat pump on the top of the tank.  A compressor and evaporator are integrated into the electric water heater unit and the evaporator draws in ambient heat from surrounding air using two variable speed fans. Condenser coils wrap the tank all the way to the bottom to transfer this heat into the tank and heat the water.  This innovative process creates the same amount of hot water as a traditional electric water heater, but can reduce water heating expenses up to 62%.

The audible sound made by the fans is similar to the sound you hear from a small microwave when it is in use.  Therefore, it is usually best to install the water heater away from sleeping areas or directly next to a television viewing area.  We recommend a utility room, basement, or garage.  Because they draw in ambient air, the units are best suited in rooms that are 10’ x 10’ but can also be placed in a closet as long as there are 240 square inches of louvered door space for proper air flow. This is a “Smart appliance” with a full digital readout and a large array of easy-to-use push button features. 

What about Local Usage Data?
We talked to Bob Geswein, Member Services Manager at Harrison REMC in nearby Corydon, Indiana.  Bob installed the GE GeoSpring Hybrid Water Heater into his own home a year ago and placed a meter directly on the unit to measure the electricity used.  There are only (2) people in his household, so his usage would be expected to be less than a family of four.  His lowest month of usage was July 2010, during which he just  $4.40 for his hot water use (based upon 12 cents per Kwh- which is similar to Wayne-White) while his highest month usage was December, which cost him $8.90 for hot water.  In contrast, one of their employees also installed a unit for their family of (5) people and saw recent usage of 135kwh which would be $16.06 per month based upon the Wayne-White rate of 12.1 cents per Kwh.  Again, your usage may vary slightly but there is no doubt that you will save a significant amount of energy dollars by heating your water with the GE GeoSpring Hybrid Water Heater.  You can see the GeoSpring Heat Pump water heater in the main lobby showroom at our Fairfield office or call us at 842-2196 with additional questions.