Heat Pump Water Heaters
$750 PSE&G rebate on a heat pump water heater — or include it in a Whole Home upgrade for up to $7,500 in rebates + 0% financing. Start with a home energy assessment.
What Is a Heat Pump Water Heater?
A heat pump water heater uses the same technology as a heat pump HVAC system but applies it to heating your water. It pulls warmth from the surrounding air and transfers it to the water tank, using a fraction of the energy that traditional electric water heaters require.
- 2-3x more efficient than standard electric heaters
- Same hot water performance you expect
- Runs on electricity — no gas line needed
- $750 PSE&G rebate + eligible for Whole Home program
How Rebates Apply
PSE&G offers a $750 post-purchase rebate for heat pump water heaters. Bundle with Whole Home for up to $7,500 in total rebates.
NJ Programs
PSE&G offers $750 post-purchase rebate. If you have other old appliances in your house or poor insulation, we suggest bundling with Whole Home for up to $7,500 in total rebates.
$750 PSE&G Rebate
Get a $750 post-purchase rebate from PSE&G for ENERGY STAR certified heat pump water heaters. Bundle with Whole Home for up to $7,500 in total rebates.
Whole-Home Upgrade Includes Your Water Heater
A standard electric water heater costs $1,500 upfront and keeps draining energy. A heat pump water heater through HomeWise? Just $146/month — and it saves you $25-35/month on hot water costs.
The Old Way — Standard Electric
You pay
$1,500
out of pocket, upfront
- Traditional electric tank heater
- No rebates available
- High operating cost ($50+/mo)
Whole-Home Upgrade via HomeWise (Example Project)
You pay
$0 down • $14,500 after $7,500 in rebates
- High-efficiency heat pump water heater
- $1,750 in rebates applied automatically
- 2-3x more efficient ($25-35/mo saved)
You pay $146/mo. You save ~$25-35/mo on hot water.
Net positive from month one.
The HomeWise Difference
Vetted Installers
Every plumber and installer is pre-screened, licensed, and experienced with heat pump water heater installations.
Managed Project
We handle scheduling, coordinate the installation, and ensure proper setup for maximum efficiency.
All Paperwork Handled
We file every rebate application and handle all the paperwork. No forms for you to worry about.
Frequently Asked Questions
How does a heat pump water heater work?
A heat pump water heater extracts heat from the surrounding air and transfers it to the water in the tank. This process uses 2-3x less electricity than a traditional electric water heater, significantly lowering your energy costs.
Where should it be installed?
Heat pump water heaters work best in unconditioned spaces like basements, garages, or utility rooms. They need at least 700 cubic feet of surrounding air space and operate most efficiently in areas between 40-90 degrees F.
How much will I save on energy bills?
Most homeowners save $200-$400 per year on water heating costs compared to a standard electric water heater. The savings are even greater when replacing an old, inefficient model.
What rebates and tax credits are available?
PSE&G offers a $750 post-purchase rebate for heat pump water heaters. But the smartest path is to include your water heater in a Whole Home Energy Solutions upgrade — you'll get up to $7,500 in total rebates plus 0% financing for up to 10 years. Sponsored by all 7 NJ utilities.
Ready for Efficient Hot Water?
Get a free assessment and find out how much you can save with a heat pump water heater.