The heat pump water heater saves you energy and money. Plus, get $550 cash back and a federal tax credit of 30% of the total cost of the project (up to $2,000). A heat pump water heater can save a household of four approximately $470 per year on electric bills when compared to a standard electric water heater. Installing a new, qualifying model offers a smart way to save on energy costs.
- New ENERGY STAR certified heat pump water heaters are eligible for the $550 Ameren rebate.
- Most ENERGY STAR certified models meet the requirements for the federal tax credit of 30% of the total cost of the project (up to $2,000). The equipment must have a Uniform Energy Factor of ≥ 2.2.
- The purchase must be made between January 1, 2023, and December 31, 2023.
- Limit two rebates per residential electric customer account.