Federal tax credit applies to products that are purchased and
installed between Jan. 1, 2015, and Dec. 31, 2016
LOUISVILLE, Ky.–(BUSINESS WIRE)–The GE GeoSpring™ water heater is now more affordable than ever. A Federal
Tax Credit for ENERGY STAR® heat pump water heaters has been
reinstated for products that are purchased and installed between January
1, 2015, and Dec. 31, 2016.
Many homeowners don’t realize their water heater is the second biggest
energy-consuming appliance in their home.1 The GE GeoSpring
hybrid electric water heater is one of America’s most efficient
50-gallon and 80-gallon water heaters—70 percent more efficient than a
standard electric water heater2—and saves the average
household between $160 and $490 every year on their electric bill.3
“With GeoSpring’s advanced heat pump technology, the savings of using
our ENERGY STAR product will pay back the difference in less than three
years for a household of four.”3 said François Lebrasseur,
marketing manager, Water Products. “This Federal Tax Credit, along with
any additional State Tax Credits and/or Utility rebates, provides a
tremendous amount of savings.”
To take advantage of the $300 Federal Tax Credit, homeowners need to
simply file IRS Form 5695, line 22a, with their 2015 or 2016 tax
filings, along with the product purchase receipt and a copy of the GeoSpring
Manufacturer’s Certification Statement. The Federal Tax Credit can
be combined with other Utility rebates and State Tax Credits available.
It applies to existing homes, with an exclusion on new construction.
Consumers need to consult a tax consultant for specific requirements and
Tallying up the savings and gathering information on GeoSpring is easy
using online resources:
The GeoSpring is available at retailers and distributors nationwide. For
more information on features and availability, visit geospring.com.
2. Based on DOE test procedures and comparison of a 2015 standard
electric tank water heater using 4646 kWh per year vs. the GeoSpring
hybrid electric water heater using 1407 kWh per year.
3. energystar.gov/index.cfm?c=heat_pump.pr_savings_benefits, accessed
GE Appliances is at the forefront of building innovative,
energy-efficient appliances that improve people’s lives. GE Appliances’
products include refrigerators, freezers, cooking products, dishwashers,
washers, dryers, air conditioners, water filtration systems and water
heaters. General Electric (NYSE: GE) works on things that matter to
build a world that works better. For more information on GE Appliances,
For GE Appliances:
Kim Freeman, 502-452-7819