Yes. A customer was asked if he was happy with the performance of his HPWH. His response was, “Very, the electric bill is way down.”
Standard electric water heaters at 50 gallons use approximately 3,531 kWh per year while a hybrid uses 950 kWh per year. At $0.21 per kWh a 50 gallon heat pump water heater will save $542.01 in the first year. Current examples of savings exists on water heater savings cards for the top 3 manufacturers based on $0.12.