Now would be a great time to start looking for a new water heater if yours is costing you money rather than saving you money. There is a new program from the federal government called Cash for Appliances. This stimulus program is designed to help stimulate the economy and help save you money on a monthly basis. This is a rebate program and not a trade in program. You don’t have to lug around your old water heater until you get a new one. The way this program works is simple, purchase a new energy star water heater and fill out the right rebate form and get anywhere from $ 50 to $ 200 cash back.

This appliance stimulus package will help homeowners make their homes greener by using Energy Star rated appliances and storeowners will help stimulate the economy by providing these rebate stimulus package water heaters. Water heaters are an integral part of your home, without a good water heater your water for showers, washing machines and dishwashers cannot do their jobs effectively. You want a water heater that will provide the hot water that you need to have your home functioning properly and they will save you money for many years to come.

The key to this program is find a water heater that is energy star rated since the efficiency will be so effective that you will wonder why you did not get a new water heater sooner. The top three energy star rated water heaters are the Rheem Professional Electric Series, the Rinnai R50LSi Tankless Water Heater and the Bosch PowerStar Electric Instant Hot Water Heaters. Let’s take a look at these water heaters and see which style will save you money on a monthly and annual basis.

Rheem Professional Electric Series Water Heaters

The Rheem Professional Electric Series Water Heaters have some very good features. Some of these features include the brass drain valve, a high-grade reliable anode rod to protect against rust and corrosion. These electric water heaters have an EverKleen Self Cleaning System is these water heaters require3 very little maintenance. There is a factory installed temperature and relief valve and the tank is 100% isolated to decrease the amount of heat loss that happens in most water heaters.

You find that this Rheem Professional Series offers an Energy Star water heater that will save you money on electricity and on water. How will you know which size water heater to buy? If you have 4 water based appliances or less including the showers then you need a 40 gallon, if you have 5 to 6 then you will need a 50 gallon, if you have 7 to 8 then you will need a 65 gallon water heater and 9 or more then you will need 80 gallons or more. This water heater has an 8 year limited tank and parts warranty.  You can find this at your local Sears Locations.

Rinnai R50LSi Tankless Water Heater

The Rinnai R50LSi Tankless Water Heater is Energy Star Rated that not only qualifies for the Cash for Appliances program but it also qualifies for a federal Tax Credit. This tankless water heater offers a sleek and contemporary design that can be wall mounted to save you space. This is a residential tankless water heater that is a commercial grade operation. It has an energy factor of .82, which makes the water heater qualify for both programs. This unit has an electrical factor of AC 120 Volts and 60 HZ. The cold water inlet has a connection of ¾” MNPT and the ¾” Hot Water Outlet.

This tankless water heater has a residential temperature of 98 degrees Fahrenheit to 140 degrees Fahrenheit. This is a Direct Vent Sealed Combustion System that is designed to help you get on hot water on demand. Since there is no storage tank you will save plenty of money on water. These Rinnai R50LSi Tankless Water Heaters are energy star rated and are 100% reliable. You can find these Water Heaters at your local appliance store location.

Bosch PowerStar Electric Instant Hot Water Heaters

The Bosch PowerStar Electric Instant Hot Water Heaters are Energy Star Rated and they are designed to help you save you money. These electric instant hot water heaters have solid copper heat exchangers with an electronic flow switch and a ¾” brass NPT fitting. You will also find on these water heaters a thermal cut off for additional safety. These units do not require any temperature and pressure relief valves. The PowerStar Electric Instant Hot Water Heater offers Model AE115 and the AE 125.

The AE 115 offers 2.3 gallons of hot water with a 50 degree Fahrenheit rise and the AE 125 offers 3.7 gallons of hot water with a 50 degree Fahrenheit degree rise. These water heaters are perfect for homes and apartment buildings as well as offices and small buildings.  These models are energy efficiency rating of 90% and 94%. The average temperatures on these units range from 104 degrees Fahrenheit to 110 degrees Fahrenheit. You can find these Bosch PowerStar Electric Instant Hot Water Heaters at your local Home Depot or Lowe’s Home Improvement Stores.

There are so many different types of water heaters out there; these are the top three styles when looking for a water heater to qualify for the Cash For Appliances. This program doesn’t start until mid October 2009. You should take the time to find out which water heater would be a great addition to your home. You want a water heater that is going to save you money and not get you the best rebate. Keep an eye out ion your state when the program begins. It is a great way to buy a new water heater and save some money at the same time.