BC: GE .. WE BRING GOOD THINGS TO LIFE
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LOUISVILLE, Ky.--(BUSINESS WIRE)-- (NYSE: GE - News) — Nearly all Americans (96 percent) think improved appliance efficiency is important for personal financial reasons,[1] yet many homeowners don’t realize their water heater is the second single-biggest, energy-consuming appliance in their home, behind the HVAC system and that more energy-efficient options are available in the marketplace.[2]
To address consumers’ growing desire to save money and be environmentally conscious, GE is launching GeoSpring™, the first hybrid electric ENERGY STAR®-qualified water heater manufactured in the U.S. that will save an average consumer $325 every year on their utility bills.
“There are very few products for your home that will save homeowners as much money as the GeoSpring,” said Stephen Downer, GE product general manager for water products. “With the state of today’s economy, we’re betting on acceptance of this technology from consumers who want to save money on their energy bills and support the GE employees in the U.S.”
Hybrid technology offers swift payback
A standard electric water heater can cost an average homeowner $520 every year to operate. The GeoSpring costs an average of $195 to operate annually, uses 62 percent less electricity than a standard electric water heater and will pay for itself in less than 2.5 years.*
The GeoSpring Hybrid Water Heater combines energy-saving heat-pump technology with traditional electric heating systems used in most conventional water heaters on the market today.
This hybrid technology is designed to absorb heat in ambient air and transfer it into the water. Since this requires much less energy than the energy used to generate radiant heat – as used in a conventional electric tank water heater – the GeoSpring Hybrid Electric Water Heater is more economical to operate.
“Approximately 50 percent of U.S. households use a standard electric water heater,” said Downer. “If 25 percent chose a GeoSpring instead of a standard 50-gallon electric water heater, more than four billion pounds of CO2 emissions on the U.S. grid could be avoided annually – equivalent to the annual emissions of more than 360,000 cars on U.S. roads. That’s a powerful way consumers can help the environment.”
Other features of the GeoSpring include:
The GeoSpring has the same footprint and electrical connections as the standard electric water heater, making it easy to install. The GeoSpring provides the same amount of hot water as traditional 50-gallon standard electric water heaters. The 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 on the day before the homeowner’s return. The GeoSpring offers more control over water temperature, allowing you to adjust in one degree increments from 100 to 140 degrees Fahrenheit. State and local tax credits and utility rebates for purchasing the ENERGY STAR-qualified energy-efficient water heater may also be available to benefit consumers.
Pricing and availability
GeoSpring will be available at national retailers in March such as Lowe's and Sears and national plumbing distributors such as Ferguson as well as many local retailers and distributors. Estimated retail price: $1,199-$1,299. For more information on features and availability GEAppliances.com/american-made-water-heater/.
About GE Appliances
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 - News) works on things that matter to build a world that works better. For more information on GE Appliances, visit www.ge.com/appliances.
*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.
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