GE Appliances (NYSE: GE):
When consumers buy the new GE® GeoSpring™ Hybrid Water Heater, they are eligible to apply for a $800 rebate through Austin Energy, reducing the cost to purchase the water heater. (Photo: GE)
Consumers in Austin, Texas, can buy a
GE® GeoSpring™ Hybrid Water Heater
, valued at $1,299, for next to nothing thanks to an Austin Energy® rebate and recently reinstated federal tax credit.
Through Feb. 20, participating retailers in the area are offering the GeoSpring for the sale price of $999.
After the rebate up to $800
Austin Energy and $300 tax credit are applied to the purchase, the cost of the GeoSpring ends up being $199 or less. This does not include taxes and installation charges. With many utility rebates, professional installation is required.
The water heater is the second single-biggest energy drain in the home behind the HVAC system.
The GeoSpring ENERGY STAR
-qualified water heater will save the average consumer $325 every year on their utility bills
Over 10 years, this savings can add up to more than $3,000 that can be used toward a vacation, a shopping spree, a home improvement or a rainy-day fund rather than a utility bill.
“With the sales promotion, Austin Energy rebate program and the federal tax credit for ENERGY STAR-certified appliances eliminating the cost of the GeoSpring, consumers start saving money from day one on utility bills,” said Francois Lebrasseur, marketing manager, water products, GE Appliances.
Technology that drives energy and cost savings
The GeoSpring’s hybrid technology is designed to absorb heat in ambient air and transfer it into the water. Since this uses much less energy than what’s needed to generate resistance heat—as used in a conventional electric tank water heater—the GeoSpring is more economical to operate.