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Oct 29, 2024

New report reveals the No. 1 home appliance that's flying off the shelves — and it's not what you think

There's never been a better time to make the switch yourself. Photo Credit: iStock Americans are embracing a more innovative way to heat their water, and their wallets are thanking them. New data

There's never been a better time to make the switch yourself.

Photo Credit: iStock

Americans are embracing a more innovative way to heat their water, and their wallets are thanking them. New data reveals that more than 190,000 heat pump water heaters were installed nationwide in 2023, a record-breaking 35% jump from the previous year.

This surge marks an exciting shift in how we're powering our homes, according to Environment America. Electric water heaters claimed 53% of the market share for the first time, outpacing their gas-powered counterparts. It's a trend that's been building since the early 2020s, and experts say it's likely here to stay.

Switching to heat pump water heaters can make a real difference in your monthly bills. Since water heating is the second-largest energy user in homes, upgrading to this efficient technology leads to significant savings.

These modern units use the same technology as your refrigerator, just in reverse, making them up to four times more efficient than traditional water heaters.

The momentum is building across the country. Clayton Homes, which builds 42,000 houses annually, recently announced they'll install heat pump water heaters in almost all their new homes.

There's never been a better time to make the switch yourself. Federal tax credits introduced in 2022 help offset the cost of upgrading to these money-saving units.

"Replacing inefficient fossil-fuel powered water heaters with efficient electric appliances will reduce the amount of energy we need to heat water in our homes dramatically," says Johanna Neumann from the Environment America Research & Policy Center. The environmental impact is significant, too. These units create cleaner air for our communities by reducing energy waste.

Looking ahead, this trend is set to become the new normal. Starting in 2029, federal efficiency standards will require most new electric water heaters to use heat pump technology. It's a change that proves doing good for your wallet and the planet can go hand in hand.

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