1. What is a Heat Pump Water Heater Savings Calculator?

Definition: This calculator estimates the annual savings from switching from a gas water heater to a heat pump water heater.

Purpose: It helps homeowners and businesses evaluate the financial benefits of upgrading to more energy-efficient water heating technology.

2. How Does the Calculator Work?

The calculator uses the formula:

Where:

• Savings — Annual cost difference (currency)
• Gas Cost — Annual operating cost of gas water heater (currency)
• HP Cost — Annual operating cost of heat pump water heater (currency)

Explanation: The calculator simply subtracts the annual operating cost of a heat pump water heater from the annual operating cost of a gas water heater to show potential savings.

3. Importance of Savings Calculation

Details: Understanding potential savings helps justify the upfront investment in a heat pump water heater and evaluate payback period.

4. Using the Calculator

Tips: Enter your current annual gas water heater cost and estimated annual heat pump water heater cost. Both values must be ≥ 0.

5. Frequently Asked Questions (FAQ)

Q1: How do I find my annual gas water heater cost?
A: Check your utility bills or use your gas provider's energy calculator. Typical costs range from $200-$600/year.

Q2: How do I estimate heat pump water heater costs?
A: Manufacturers provide energy guides, or use online calculators. Typical costs range from $100-$300/year.

Q3: What factors affect savings?
A: Local energy prices, water usage patterns, climate, and equipment efficiency ratings.

Q4: Does this include installation costs?
A: No, this only compares operating costs. Include installation in your payback period calculation.

Q5: Are there other benefits besides cost savings?
A: Yes, heat pump water heaters typically have lower carbon emissions and may qualify for rebates.