GeoSpring™ Rebates and Incentives

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The GeoSpring saves you big … $320 every year and reduces your operating cost by up to 62%* over a standard electric 50-gallon water heater.  Imagine these savings plus additional incentives!  That’s right even more savings. 

Since water heaters are second in electricity usage behind the heating and cooling system in homes, many state and utilities offer rebates for heat pump water heaters to reduce electricity consumption in their area.  Additionally, there is a federal tax incentive of 30% of the cost of a heat pump water heater plus installation that expire December 31, 2010.  If you take the incentives along with the annual savings on your electricity, the GeoSpring is really a smart buy. 

If you purchase the GeoSpring at an estimated resell of $1599, you would receive a federal tax incentive of $480.  You would save even more if you have installation services added on.  Remember it is 30% federal tax incentive on the purchase price plus installation. 

It gets even better.  There are also many state and utility rebates to increase your savings even more.  For example, Texas has a $300 state rebate on heat pump water heaters.  So if you look at the savings breakdown:

 $1599 GeoSpring ™ estimated resellᵻ

 -$480 Federal tax incentive**

 -$300 Texas state rebateⱡ

  $819 Reduced cost if you live in Texas

Divide the $819 reduced cost by $320 annual savings and you have a payback of 2.6 years!  Since the federal incentive is expiring this year, I highly recommend you take advantage of all the incentives before it is too late.  Otherwise, you will not have the $480 or more in federal tax incentive to reduce your overall cost if you wait until next year. 

There are tons of rebates out there and GE makes it easier by posting them on their website and they have a handy calculator that will provide your reduced cost and payback after filling in http://www.geappliances.com/geospring.

So why is the GeoSpring a smart purchase?  First, you save $320 every year in water heater operating cost.  Second, the federal tax incentive of 30% on the purchase and installation price of the GeoSpring.  Third, the many state and utility rebates available.   And fourth, the payback just makes sense.  Why wouldn’t you purchase a GeoSpring?

* Based on DOE test procedure and comparison of a 50-gallon standard electric tank water heater using 4879 kWh per year vs. the GeoSpring hybrid heat pump water heater using 1856 kWh per year.

**Some restrictions may apply.  Consumers can go through their state department of revenue office for more information

ⱡSubject to change at any time. To confirm availability and eligibility go to the website listed for your state or contact your local utility directly.

ᵻResellers determine their own resell price