Welcome to the updated Slickdeals redesign beta. Learn more and give us feedback. Or, return to the classic view.

Search in
Join the Slickdeals Special Olympics World Games Fundraising Team Support the World Games
Forum Thread
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 09:43 AM in Mail In Rebate (5) More Lowes Deals
Deal
Score
-1
15,701 Views
Buy Now

Thread Details

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

1 2

Sign up for a Slickdeals account to remove this ad.

#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.
Reply Helpful Comment? 0 0
#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
Reply Helpful Comment? 0 0
Hasidic diamond merchant
63 Reputation
Original Poster
#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.
Reply Helpful Comment? 0 0
#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.
Reply Helpful Comment? 0 0
#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!
Reply Helpful Comment? 0 0
#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.
Reply Helpful Comment? 0 0
Page 2 of 2
1 2
Join the Conversation
Add a Comment
 
Slickdeals Price Tracker
Saving money just got easier.
Start Tracking Today
Copyright 1999 - 2015. Slickdeals, LLC. All Rights Reserved. Copyright / DMCA Notice  •  Privacy Policy  •  Terms of Service  •  Acceptable Use Policy (Rules)