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I've had mine for about a year. I put it in my garage which previously, would reach easily 100F + in the summer. This past summer, on the hottest day, it got to about 90 in the garage. When the water heater was running, it easily kept the garage below 90. I purchased the hybrid version which can use straight electricity when the heat pump won't cut it. This serves to also keep the garage cooler for the second fridge I have in the garage. I was previously on propane to heat my water, which was costing between $50 - $60 a month. During the summer, my electricity bill only went up $12 a month. During the coldest part of winter, it was at about $30 a month more. But, I pay considerably less for electricity in the winter than in the summer. Just for reference, I purchased the Rheem 65 gal 10 year warranty from Home Depot when it was on sale. This has definitely been one of the best purchases |
Positives: As far as I can tell so far, the savings in electric usage should pay back within 2-3 years. It has a 10 year warranty, which should keep it working for a while. If the compressor fails, there is an electric element as backup. The device itself seems solid and well built.
Negatives: Even though it's in the basement, it's louder than I'd like --- about like an window air conditioner. Getting it down the narrow basement stairs (and getting the old heater out) was hard. Reheat is fairly slow if you keep it on the highest efficiency "heat pump only" setting. I've yet to get the phone app working to control it from upstairs. The basement is quite cool (especially in winter) so I'm worried it won't be maximally efficient. It produces a small amount of condensate water, which requires a drain of some sort.
Overall, I'm hoping it will be a win. It produces enough hot water for our 2-person needs, and seems like it should be more efficient than what it replaced. If you are considering one, it's worth thinking about the cooling effect that it will have on the room that it is in. If you already run an air conditioner, this is a win. If you are heating, this is a loss. We heat with wood in the winter (which is inexpensive if you cut your own) and don't have any other summer air conditioner, so for us this aspect is fairly neutral.