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.
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
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.
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
-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
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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