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Is a Heat Pump Water Heater a Good Investment?

You have more options today for new water heater installation than you once did. The standard storage tank water heater is no longer the sole type available. You can now install tankless and hybrid water heaters. One of the more exciting developments in water heater technology is the heat pump water heater. Is one of these systems a good investment for your home?

How a heat pump water heater operates

The basics of a heat pump water heater are, well, basic. Instead of using natural gas or electrical heating elements within the tank to warm up the water, a heat pump water heater draws thermal energy from the air outside and then applies it to the water in the tank. This is the way that a standard heat pump operates: refrigerant absorbs heat through an outdoor coil, then moves the heat indoors where it is transferred to the air—or in this case, the water in the tank.

How such an installation can save you money

These water heaters have high energy efficiency, since they do not rely on burning either natural gas or using electrical resistance heating. According to the U.S. Department of Energy’s ENERGY STAR program, a household of four can save approximately $330 per year with a heat pump water heater, which means a payback period of 2.4 years and lifetime savings of around $3,510. When you factor in the large tank size and the eco-friendly performance, a heat pump water heater makes for a very good investment indeed.

However, you must have professional input before making a decision; a heat pump water heater isn’t automatically the ideal choice for every home, and it may not fit with your immediate budget plans. A water heater expert can help you find the right unit for your home, and then take care of all the installation work.

Are you interested in a heat pump water heater for your next installation? Just call Malek Heating & Cooling in Skokie, IL.

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