What does it cost and what is your payback time?

Subtract the $500 rebate check and your actual cost is about half the cost of a 50 gallon standard plastic Marathon water heater.
If you purchase one, just bring us the receipt and sign a rebate request form to receive your $500 check.

With an annual savings of $361 described, your new Heat Pump water heater will pay for itself in the first 2 years,
It will continue to save you about $30 a month on your electric bill because it its 253% efficient at heating water compared to 94% or less on standard electric water heaters.

The drawback is that they will make some noise (like a small fan) while heating the water, and they will put out some cool air.