Austin Residents Can Buy a GE Ultra-Efficient Water Heater for Next to Nothing

  Austin Residents Can Buy a GE Ultra-Efficient Water Heater for Next to
  Nothing

  *A rebate up to $800^1 from Austin Energy® plus $300 federal tax credit
    applies to the purchase of GE’s GeoSpring™ Hybrid Water Heater
  *Consumers save on utility bills, putting money in their pockets every
    month thereafter purchase
  *GeoSpring’s hybrid water-heating technology can save consumers on average
    of $3,000 over 10 years

Business Wire

LOUISVILLE, Ky. -- February 11, 2013

GE Appliances (NYSE: GE):

When consumers buy the new GE® GeoSpring™ Hybrid Water Heater, they are
eligible to apply for a $800 ...

When consumers buy the new GE® GeoSpring™ Hybrid Water Heater, they are
eligible to apply for a $800 rebate through Austin Energy, reducing the cost
to purchase the water heater. (Photo: GE)

Consumers in Austin, Texas, can buy a GE^®GeoSpring™ Hybrid Water Heater,
valued at $1,299, for next to nothing thanks to an Austin Energy® rebate and
recently reinstated federal tax credit.^2 Through Feb. 20, participating
retailers in the area are offering the GeoSpring for the sale price of $999.^3
After the rebate up to $800^1 from ^ Austin Energy and $300 tax credit are
applied to the purchase, the cost of the GeoSpring ends up being $199 or less.
This does not include taxes and installation charges. With many utility
rebates, professional installation is required.^2

The water heater is the second single-biggest energy drain in the home behind
the HVAC system.^4 The GeoSpring ENERGY STAR^®-qualified water heater will
save the average consumer $325 every year on their utility bills.^5 Over 10
years, this savings can add up to more than $3,000 that can be used toward a
vacation, a shopping spree, a home improvement or a rainy-day fund rather than
a utility bill.

“With the sales promotion, Austin Energy rebate program and the federal tax
credit for ENERGY STAR-certified appliances eliminating the cost of the
GeoSpring, consumers start saving money from day one on utility bills,” said
Francois Lebrasseur, marketing manager, water products, GE Appliances.

Technology that drives energy and cost savings

The GeoSpring’s hybrid technology is designed to absorb heat in ambient air
and transfer it into the water. Since this uses much less energy than what’s
needed to generate resistance heat—as used in a conventional electric tank
water heater—the GeoSpring is more economical to operate.

Other features of the GeoSpring include:

  *Includes same water and electrical connections as the standard electric
    water heater, making it easy to install.
  *Provides the same amount of hot water as traditional 50-gallon standard
    electric water heaters.
  *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 the day before the homeowner’s return.
  *Offers additional control over water temperature by allowing consumers to
    adjust the temperature setting in one-degree increments from 100 to 140
    degrees Fahrenheit.

Rebate and tax credit details

To receive the rebate, Austin Energy customers must complete and submit a
rebate application, providing corresponding details and information such as
receipts.^6

The Residential Energy Credits form must be used by consumers filing for the
federal tax credit.^7

As an added convenience to simplify the shopping experience, GE Appliances’
newRebate Finder allows consumers to easily see rebates by appliance model
that may be available in their area. FromGEAppliances.com, simply enter your
zip code and select Water Heaters in the product field to view rebate details
and submit.

Availability

The GeoSpring is available at national retailers such as Lowe's and Sears and
national plumbing distributors such as Ferguson, as well as many local
retailers and distributors. For more information on features and availability,
visitwww.GEAppliances.com/GeoSpring.

1. Austin Energy rebate cannot exceed 50% of total installed cost. Up to $800
max rebate amount.

2. For details, visit GE Appliances Rebates.

3. Dealers set their own prices.

4. Water heating @http://en.wikipedia.org/wiki/Water_heatingand DOE.

5. 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.

6. Rebate must be claimed within 60 days of purchase.

7. Please see http://www.irs.gov/pub/irs-pdf/f5695.pdf, item 24a

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Contact:

GE Appliances
Julie Wood, PR Manager, 502-452-5914
Julie_Wood@ge.com
 
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