(NYSE: GE) Consumers in Pensacola, Fla., can buy a GE® GeoSpring™ Hybrid Water Heater, valued at $1,299, for next to nothing thanks to a Gulf Power rebate and recently reinstated federal tax credit. 1 Through Feb. 20, participating retailers in the area are offering the GeoSpring for the sale price of $999. 2 After the $700 Gulf Power rebate and $300 tax credit are applied to the purchase of GeoSpring, consumers recoup close to the total cost of the water heater. This does not include taxes and installation charges. With many utility rebates, professional installation is required. 1
When consumers buy the new GE(R) GeoSpring(TM) Hybrid Water Heater, they are eligible to apply for a $700 rebate through Gulf Power, reducing the cost to purchase the water heater. (Photo: GE)
The water heater is the second single-biggest energy drain in the home behind the HVAC system. 3 The GeoSpring ENERGY STAR ®-qualified water heater will save the average consumer $325 every year on their utility bills .4 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, Gulf Power 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 for 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.