With Incentives, Tallahassee Homeowners Can Now Save $1,890 When Installing a New Rheem Hybrid Electric Water Heater

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City of Tallahassee Utilities rebate of $1,200 and a 30% federal tax credit should more than cover the cost of the new, ultra-efficient Rheem Hybrid Electric Water Heater. But don’t wait: Tallahassee Utilities rebate is good only through September 30, 2010.

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This is great opportunity for Tallahassee homeowners to lower their water heating bills while installing an ENERGY STAR-certified hybrid water heater at an exceptionally affordable price through the various federal and local incentives – but without making any sacrifices in comfort and convenience for their families

Tallahassee, Fla., home-owners now have an extra-powerful economic incentive to install a Rheem Hybrid Electric Water Heater (photo), featuring an innovative type of heat pump technology that delivers twice the efficiency of a standard electric water heater. Not only will consumers immediately slash their water heating bills in half, but federal and local utility incentives will more than cover the cost of the product itself. Even with installation, a new Rheem Hybrid Electric should cost less than a standard electric water heater installed.

Here’s how the arithmetic works:
        Product: The approximate retail price of a new Rheem HP-50 Hybrid Electric is $1,599. But a 30 percent federal tax credit ($479.70 — good through December 31) and a City of Tallahassee Utilities rebate of $1,200 (good through September 30) for ENERGY STAR®-certified heat pump water heaters actually exceed the cost of the product. In fact, the homeowner comes out ahead by nearly $81. (See accompanying chart on next page.)
    Installation: The installation of a new Rheem HP-50 Hybrid Electric by a professional plumber will likely run $300 to $700. But this expense is also eligible for the 30% federal tax credit, saving the homeowner another $210 if you use the higher cost figure. That drops the overall installation cost to around $490.
    Bottom line: With the local rebate and federal tax credit totaling $1,890, the installed cost of a new Rheem HP-50 Hybrid Electric calculates to $409. That figure is actually less than the installed cost of a standard electric water heater, which is not eligible for rebates.

Then the savings really begin: Once the Rheem Hybrid Electric is installed, energy consumption — and operating costs — should drop substantially. Based on the current electric rate ($0.12318 per kilowatt-hour), the annual operating cost for a standard electric water heater in Tallahassee would be almost $588. But for a Rheem Hybrid Electric with heat pump technology, that figure is just over $270, for an annual savings of $317. In addition, the new water heater carries a 10-year warranty, versus a six-year warranty of the standard unit, so that annual savings multiplies to nearly $3,200 over its first decade.

“This is great opportunity for Tallahassee homeowners to lower their water heating bills while installing an ENERGY STAR-certified hybrid water heater at an exceptionally affordable price through the various federal and local incentives – but without making any sacrifices in comfort and convenience for their families,” says Peter Reynolds, Rheem Water Heating general manager.

Professional installation services: To learn more about the benefits of purchasing a new Rheem Hybrid Electric Water Heater, contact Rheem’s local plumbing distributor in Tallahassee: The Gorman Company, a division of Hajoca Corporation, at 850.575.8117. Professional installation services can be provided by one of the following expert plumbers:

  • Whites Plumbing: (850) 576-3510        
  • Boone Enterprises: (850) 869-0587
  • Lance Maxwell Plumbing: (850) 562-6227    
  • American Backflow & Plumbing: (850) 251-7586
  • M & L Plumbing: (850) 575-9393        
  • Smith Plumbing: (850) 681-7473    

For more information on the growing Rheem line of hybrid heat pump water heaters, please visit http://www.rheemhpwh.com

Editor's Note: Publication-quality photograph of an image to accompany this press release can be downloaded at the following location on the web: http://rheem.oreilly-depalma.com/2010/incentives_save_rheem_hybrid_water_heater.shtml

Required Forms:
The City of Tallahassee Utilities rebate form can be downloaded at: http://www.talgov.com/you/energy/pdf/es_hvac_new.pdf.

The federal tax credit form can be found at: http://www.rheem.com/Products/tank_water_heaters/Hybrid_electric/tax_credit

Rheem Manufacturing Company (http://www.rheem.com) is privately held with headquarters in Atlanta. In its 83rd year of operation, the company manufactures a full-line of high-quality residential and commercial heating and cooling systems; tank, tankless, solar, and heat pump water heaters; swimming pool heaters and commercial boilers throughout North America and world markets. The company’s premium brands, including Raypak, Ruud and Rheem, have been recognized with countless industry and consumer awards for reliability, innovative design, and high quality. Rheem is the official heating, cooling, and water heating supplier to Kevin Harvick, Inc. and is the primary sponsor of NASCAR’s Nationwide Series “Driver of the Decade,” Kevin Harvick and his #33 car.

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