This is an extreme YMMV situation (and it's nothing to do with utility discounts either). Some stores have it for $700-800+ and some have it deeply discounted to $359.64. In my area for example: Greeneville, TN, Abingdon, VA, and Waynesville, NC have the cheaper $359.64 price, while Johnson City, TN has it for $719.28 and Jonesborough, TN has it for $799.20. Most stores don't have any in stock and if they do it's just 1 maybe 2.
The reason for the low price and scarce availability is that GE discontinued making the GeoSpring water heaters. They sold the production machinery to Bradford White who will presumably use that to build the same or similar product with different branding and a higher price.
The Hybrid Electric type water heater is your best bet for lower energy bills if you can't get natural gas where you live (like me). The original GeoSpring water heaters had huge reliability issues, but this part number is newer and has much more positive reviews. I will probably still try to get Lowe's to add their 5 year warranty when I pick it up just to avoid the potential headache of trying to deal with GE's warranty people. The Lowe's extended warranty is no longer showing as an add-on option when you buy this, but it used to as recently as 2 weeks ago.
Edit: Apparently Bradford White will be administering the warranty for these. Not sure if that's better than GE, but figured I'd mention it. http://www.bradfordwhite.com/geos...ter-heater