Heat Pump Water Heater Savings Calculator
Calculate how much you can save annually by switching from a traditional water heater to a heat pump water heater. Our calculator compares energy usage and costs to help you make the best decision.
Understanding Heat Pump Water Heater Savings
Heat pump water heaters (HPWH) use electricity to move heat from the surrounding air into the water, instead of generating heat directly. As a result, they are much more efficient than traditional electric water heaters and can significantly reduce energy consumption and costs.
How Heat Pump Water Heaters Work
Heat pump water heaters use a refrigeration cycle to extract heat from the air and transfer it to the water. This process requires less energy than traditional water heaters, which use electric resistance elements or gas burners to heat the water directly. This makes heat pump water heaters much more efficient and environmentally friendly.
Why Are Heat Pump Water Heaters More Efficient?
- Higher Efficiency (COP): Heat pump water heaters have a higher Coefficient of Performance (COP), meaning they can produce more heat with less energy input compared to traditional electric water heaters.
- Lower Operating Costs: They consume less electricity, reducing monthly utility bills.
- Eco-Friendly: Reduced greenhouse gas emissions due to lower energy consumption.
Annual Savings
Heat pump water heaters can save homeowners between 50% and 70% on water heating costs, depending on usage and energy prices. The amount saved depends on several factors, including your current water heater's efficiency, your local electricity rates, and your hot water usage patterns.
Typical Savings Example
If your current water heater costs you $800 annually to operate, and you switch to a heat pump water heater with a COP of 3.0, you could save between 50% and 70% on your annual water heating costs. This means you could save between $400 and $560 annually.