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. 2 Through Feb. 20, participating retailers in the area are offering the GeoSpring for the sale price of $999. 3 After the rebate up to $800 1 from 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. 2 The water heater is the second single-biggest energy drain in the home behind the HVAC system. 4 The GeoSpring ENERGY STAR ®-qualified water heater will save the average consumer $325 every year on their utility bills . 5 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.
Other features of the GeoSpring include:
- Includes same water and electrical connections as the standard electric water heater, making it easy to install.
- Provides the same amount of hot water as traditional 50-gallon standard electric water heaters.
- Integrated electronics on the GeoSpring’s control panel offer exclusive features, such as Vacation mode, which will lower the water temperature to 50 degrees for the duration of a trip, and then automatically reenergize itself the day before the homeowner’s return.
- Offers additional control over water temperature by allowing consumers to adjust the temperature setting in one-degree increments from 100 to 140 degrees Fahrenheit.