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Lowes Discounts, Deals and Coupon Codes

GE GeoSpring Hybrid Water Heater + $300 federal tax credit (price depends on locale)

Joe Squirrel 63 February 13, 2013 at 10:43 AM in Mail In Rebate (5) More Lowes Deals
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Last Edited by Joe Squirrel February 16, 2013 at 02:43 PM
This heatpump water heater [lowes.com] is on sale at Lowes currently for $999. Combined with a 10% mover's coupon, you'll be down to $899.10 plus tax.

This isn't much of a deal, but the federal govenment recently extended the $300 tax credit for installing energy efficient appliances in your home. This had previously expired, so the deal wasn't as good. There is a $500 lifetime limit on this tax credit, so if you have filed a Form 5695 before, you'll need to figure that into the equation.

There may also be local utility company rebates and state tax credits. Check your rebates/credits by zipcode HERE. [geappliances.com]

In our case, we had purchased the water heater before the fed tax credit was renewed, but our state offered a credit and our utility company offered a rebate bringing the price down to roughly $400 out the door. With the fed tax credit renewed, we're now down to roughly $100 - not too bad. Plus, we're saving approximately $20 per month on our electric bill, so it will pay for itself in 5 months.

Federal Form 5695 PDF [irs.gov] (this water heater falls under line 24a)

FWIW, the previous version of this water heater was made in Mexico and was prone to failure within 12-18 months. This is a redesigned version made in Louisville, KY. Hopefully, it is more dependable. So far, the reviews look good.

EDIT - Don't forget you can purchase through the cash back site of your choice for 3-5% extra back on the initial cost before rebates!

20 Comments

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#16
Quote from Xriderbc View Post :
I thought the on demand hot water heaters were supposed to be pretty efficient and cost saving? Guess it depends on what you pay for one...
I was thinking that also, but in talking to several different contractors, they did not recommend the on demand system for use in a whole house system. They said that there were numerous problems.
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#17
Quote from Joe Squirrel View Post :
This heatpump water heater [lowes.com] is on sale at Lowes currently for $999. Combined with a 10% mover's coupon, you'll be down to $899.10 plus tax.

This isn't much of a deal, but the federal govenment recently extended the $300 tax credit for installing energy efficient appliances in your home. This had previously expired, so the deal wasn't as good. There is a $500 lifetime limit on this tax credit, so if you have filed a Form 5695 before, you'll need to figure that into the equation.

There may also be local utility company rebates and state tax credits. Check your rebates/credits by zipcode HERE. [geappliances.com]

In our case, we had purchased the water heater before the fed tax credit was renewed, but our state offered a credit and our utility company offered a rebate bringing the price down to roughly $400 out the door. With the fed tax credit renewed, we're now down to roughly $100 - not too bad. Plus, we're saving approximately $20 per month on our electric bill, so it will pay for itself in 5 months.

Federal Form 5695 PDF [irs.gov] (this water heater falls under line 24a)

FWIW, the previous version of this water heater was made in Mexico and was prone to failure within 12-18 months. This is a redesigned version made in Louisville, KY. Hopefully, it is more dependable. So far, the reviews look good.
I just looked up my zip code (20904) and the rebate is $350 Smilie
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#18
Quote from charsobeez View Post :
I just looked up my zip code (20904) and the rebate is $350 Smilie
Awesome! woot

I will also update my original post to reflect a further discount by buying through one of the cash back sites. This can net an additional 3-5% from the initial $1000 cost.
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#19
I just bought this one last week here in Louisville, KY. Lowes had it on sale for $999. The local utility is offering a $300 rebate. Kentucky is offering a $250 tax credit and the Feds are still offering a $300 tax credit. Thats a total of $150. Chase freedom is offering 5% cash back for Lowes this month so thats an additional $50 which makes it a $100 water heater. Combine that with the monthly savings and Ill break even in 5-6 months. My old water heater was 6+ years old so this is almost a free replacement.
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#20
If you buy this online through Chase Ultimate Rewards, you can get 5 points/dollar (5% cashback) in addition to the 5% category for this quarter. AEP is offering $300 back in Ohio via rebate too.

$1199.00 Regular Price
-200.00 Sale
-99.90 via 10% coupon
-$300 Federal Credit
-$300 AEP Rebate in Ohio
-49.95 in UR points via Chase Ultimate Reward Mall
-49.95 in UR points with Chase Freedom VISA
$199.20

WOW!
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#21
For anyone doing the lowes installation, expect it to be substantially more expensive then what they quote over the phone. I was pretty shocked at mine, almost as much as the unit itself before any rebates.
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