Can A Heat Pump Hot Water Heater Save Money?
Now onto the question that countless water heater shoppers have – can a heat pump water heater help you save money?
You’ll be happy to know that yes, it can! Of course, your exact savings will depend on your situation. Heat pumps tend to use far less energy than standard water heaters. This means that they’ll have less of an impact on your utility bills, so your monthly bills could be lower.
There are also a few other things that you can do if you’d like to reduce costs and be more efficient. Such as:
Only Use Hot Water When Needed. Make sure you and your family are taking care to only use hot water when needed. If you’re doing something that involves water but doesn’t require hot water, you can save money by using cold water instead. Activities like brushing your teeth, washing your hands and washing dishes don’t always need hot water.
Fix Leaks When You Find Them. If you find a leaky pipe or faucet, fix it ASAP! Every drop that falls is a drop of water wasted. Although it might not seem like much at first, those droplets can seriously add up.
Lower Your Heat Pump Hot Water Heater’s Thermostat. Most water heaters allow you to adjust their set temperature. Try to lower your water heater’s thermostat to save on heating bills. Most people can stand to lower their water heater’s thermostat quite a bit before they get uncomfortable.
One downside of purchasing a new heat pump water heater that you may have noticed is that their upfront costs can be rather pricey. The higher upfront cost might put people off, but we encourage you to remember that these water heaters can drastically reduce your energy usage.
Lesser energy usage means reduced utility bills, and reduced utility bills mean more money saved. In fact, the average heat pump water heater can help you lose up to 70% less energy!
So, even though the higher initial price of a new heat pump hot water heater may seem like a disadvantage, you’ll certainly make up for it over time with how much money and energy you’ll be saving.