Austin Residents Can Buy a GE Ultra-Efficient Water Heater for Next to Nothing
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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130211:nBw115190a * A rebate up to $8001 from Austin Energy plus $300 federal tax credit applies to the purchase of GE`s GeoSpring Hybrid Water Heater * Consumers save on utility bills, putting money in their pockets every month thereafter purchase * GeoSpring`s hybrid water-heating technology can save consumers on average of $3,000 over 10 years LOUISVILLE, Ky.--(Business Wire)-- GE Appliances (NYSE: GE): http://mms.businesswire.com/bwapps/mediaserver/ViewMedia?mgid=357666&vid=4 When consumers buy the new GE GeoSpring Hybrid Water Heater, they are eligible to apply for a $800 rebate through Austin Energy, reducing the cost to purchase the water heater. (Photo: GE) Consumers in Austin, Texas, can buy a GE® GeoSpring Hybrid Water Heater, valued at $1,299, for next to nothing thanks to an Austin Energy rebate and recently reinstated federal tax credit.2 Through Feb. 20, participating retailers in the area are offering the GeoSpring for the sale price of $999.3 After the rebate up to $8001 from Austin Energy and $300 tax credit are applied to the purchase, the cost of the GeoSpring ends up being $199 or less. This does not include taxes and installation charges. With many utility rebates, professional installation is required.2 The water heater is the second single-biggest energy drain in the home behind the HVAC system.4 The GeoSpring ENERGY STAR®-qualified water heater will save the average consumer $325 every year on their utility bills.5 Over 10 years, this savings can add up to more than $3,000 that can be used toward a vacation, a shopping spree, a home improvement or a rainy-day fund rather than a utility bill. "With the sales promotion, Austin Energy rebate program and the federal tax credit for ENERGY STAR-certified appliances eliminating the cost of the GeoSpring, consumers start saving money from day one on utility bills," said Francois Lebrasseur, marketing manager, water products, GE Appliances. Technology that drives energy and cost savings The GeoSpring`s hybrid technology is designed to absorb heat in ambient air and transfer it into the water. Since this uses much less energy than what`s needed to generate resistance heat-as used in a conventional electric tank water heater-the GeoSpring is more economical to operate. Other features of the GeoSpring include: * Includes same water and electrical connections as the standard electric water heater, making it easy to install. * Provides the same amount of hot water as traditional 50-gallon standard electric water heaters. * Integrated electronics on the GeoSpring`s control panel offer exclusive features, such as Vacation mode, which will lower the water temperature to 50 degrees for the duration of a trip, and then automatically reenergize itself the day before the homeowner`s return. * Offers additional control over water temperature by allowing consumers to adjust the temperature setting in one-degree increments from 100 to 140 degrees Fahrenheit. Rebate and tax credit details To receive the rebate, Austin Energy customers must complete and submit a rebate application, providing corresponding details and information such as receipts.6 The Residential Energy Credits form must be used by consumers filing for the federal tax credit.7 As an added convenience to simplify the shopping experience, GE Appliances` new Rebate Finder allows consumers to easily see rebates by appliance model that may be available in their area. From GEAppliances.com, simply enter your zip code and select Water Heaters in the product field to view rebate details and submit. Availability The GeoSpring is available at national retailers such as Lowe's and Sears and national plumbing distributors such as Ferguson, as well as many local retailers and distributors. For more information on features and availability, visit www.GEAppliances.com/GeoSpring. 1.Austin Energy rebate cannot exceed 50% of total installed cost. Up to $800 max rebate amount. 2.For details, visit GE Appliances Rebates. 3.Dealers set their own prices. 4.Water heating @ http://en.wikipedia.org/wiki/Water_heating and DOE. 5.Based on DOE test procedure and comparison of a 50-gallon standard electric tank water heater using 4879 kWh every year vs. the GeoSpring Hybrid Water Heater using 1830 kWh every year. 6.Rebate must be claimed within 60 days of purchase. 7.Please see http://www.irs.gov/pub/irs-pdf/f5695.pdf, item 24a Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130211005190/en/ GE Appliances Julie Wood, PR Manager, 502-452-5914 Julie_Wood@ge.com Copyright Business Wire 2013
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