a picture of a gas water heater and a new heat pump electric water heater next to it, with the title Gas to Electric Heat Pump Water Heater Savings Calculator written in the center

*Scroll down a bit for the calculator

Heat pump hot water heaters (also called hybrid water heaters) are one of the best ways to save energy in your home if you’re looking to cut down on those energy bills.

Although natural gas water heaters can be very efficient these days, and actually might not cost a lot per year to run, the new heat pumps are still usually much more efficient, safer, and cheaper.

The prices have come down to the point where the numbers really make a lot of sense, even if you’re looking at replacing a fairly new gas conventional tank water heater.

For these reasons, along with the energy savings, it can make lot of sense to replace your conventional natural gas water heater with one of these new heat pump units.

I have replaced two of these in my net zero renovation projects, including one that was only two years old in perfect working order. The numbers (savings/ROI) still made a ton of sense.

So I wanted to make the most in-depth and accurate calculator online, so that you can see exactly what your savings are, and the investment-related numbers over a 10-year timeframe.

About Our Improved Savings Calculator

There are a few calculators online, but I found that they really don’t tell the whole story, are complicated to use, use generic numbers, or are just outdated.

While there is a little bit of research and time to put into the numbers you enter below, I feel it’s well worth it. Here is how our heat pump water heater replacement really dials in what you’ll spend and what you’ll save:

  • Adjustments for actual current gas usage and savings vs. generic EnergyGuide label numbers.
  • Accuracy by using your own State’s gas and electric utility rates, or enter your own.
  • Adjustment for actual inflation over 10 years.
  • Inputs for adding materials, labor, selling your old water heater (secondhand), and any rebates or tax credits you might get.
  • Detailed cost savings over 10 years.
  • Detailed return on investment (ROI) figures that show exactly what the install does for you.

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