Oh, hey there, homeowner. Have you gotten to know a heat pump water heater? Let’s make this your moment. Because traditional tank water heaters are attractive up front but create rocky relationships between you and your electric bill. That is, they cost less to buy but more to run.

Enter our good pal, the heat pump water heater. You might not find it particularly attractive at first glance—it does come with a higher price tag, but that’s because it has so much to offer. In an average household, savings from using a heat pump water heater can add up to about $300 per year. And we’ll sweeten the deal with a nice rebate.

A heat pump water heater works by using electricity to move heat. Because it doesn’t have to generate heat but simply transfers existing heat, it uses less electricity than a traditional water heater.

If you upgrade from an electric tank water heater to a heat pump water heater with an Energy Factor of 2.0 or more, you can qualify for a $400 rebate. With major savings year after year and a rebate at the outset, a heat pump water heater really is worth getting to know.