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60-70% Less Electricity Than Standard Tanks
Heat pump water heaters extract heat from surrounding air to heat water -- using a fraction of the electricity of traditional electric resistance tanks. NHSaves offers a $750 instant rebate for qualifying models from all four NH utilities.
Updated February 2026
All models below meet the NHSaves minimum UEF of 2. Prices include equipment only -- installation is additional.
Best overall — highest efficiency, smart home features
Most widely available — strong plumber familiarity
Budget-conscious with solid reliability
Premium quality — quietest option, ideal for living spaces
No federal tax credit available. Section 25C expired Dec 31, 2025. The NHSaves $750 rebate is your only incentive in 2026.
HPWH uses 60-70% less electricity than standard electric tank. Savings slightly lower in NH due to cooler basement temps in winter.
Eliminates oil-fired water heating. No more fuel deliveries for hot water. Many NH homes heat water with oil.
Significant savings over propane water heating — common in rural NH areas not served by natural gas.
HPWHs have specific space and electrical requirements. NH basements are well-suited but require attention to cold climate considerations.
Same as electric dryer. Most NH homes have capacity, but panel space must be verified by electrician.
Standard basement, garage, or utility room. Cannot be in a small closet — needs air circulation.
HPWH produces condensation — needs floor drain nearby or condensate pump (adds $100-200).
HPWH extracts heat from surrounding air. Performs best in spaces 40-90F. NH basements stay 50-60F in winter — within operating range but efficiency drops slightly.
Most models run 45-55 dB (dishwasher level). Stiebel Eltron is quietest at 37 dB. Locate away from bedrooms.
Standard 3/4" connections — same as existing water heater in most cases.
Install in conditioned or semi-conditioned space. Do not install in unheated garage or crawlspace in NH — risk of freeze damage below 40F.
Adequate for most couples and singles
Good middle ground for small families
Recommended — HPWHs heat more slowly than gas/oil
When in doubt, size up. HPWHs heat water more slowly than gas or oil, so a larger tank ensures you will not run out during peak usage.
No statewide subsidized loan program available — standard commercial loans or on-bill financing through some utilities
Income-eligible households: Additional assistance available through Home Performance Direct for qualifying households
Not always. The NHSaves HPWH rebate can often be obtained as a standalone rebate without a full HPwES assessment. However, if you are combining the HPWH with insulation work, the HPwES assessment is required. Call 603-229-2727 to confirm for your specific utility.
Yes. Most NH basements stay 50-60F even in winter, which is within the operating range for all qualifying models. Efficiency drops slightly below 55F, but still far more efficient than electric resistance. Do NOT install in an unheated garage or crawlspace — risk of freeze damage below 40F.
A HPWH extracts heat from surrounding air. It may lower basement temperature by 2-5F. In summer, this provides free dehumidification — a real bonus in NH basements. In winter, if your basement is already heated, factor in slightly higher heating costs. In a typical semi-conditioned NH basement, this is manageable.
No. The Section 25C energy efficiency tax credit expired December 31, 2025. There is no federal tax credit for heat pump water heaters in 2026. The NHSaves $750 rebate is your primary incentive.
Apply through whatever utility provides your electric service — Eversource NH, Liberty, Unitil, or NHEC. All four offer the same $750 HPWH rebate under the NHSaves program. Call 603-229-2727 or your utility directly.
General rule: 50 gallons for 1-2 people, 65 gallons for 2-3 people, 80 gallons for 3+ people. HPWHs heat more slowly than gas/oil, so sizing up is recommended. When in doubt, choose 80 gallons.
Typically 4-6 hours for a straightforward replacement. If electrical panel work is needed (adding a 240V circuit), allow an additional 2-4 hours and $200-500 for the electrician.
NH does not have a statewide subsidized loan program like CT Smart-E or Mass Save HEAT Loan. Some utilities offer on-bill financing. Standard home improvement loans or HELOCs at market rates are common alternatives. Income-eligible households may qualify for additional assistance through Home Performance Direct.
NuWatt Energy is an energy advisor serving New Hampshire homeowners. This guide is provided as an educational resource. HPWH rebate details and model specifications are sourced from nhsaves.com and manufacturer data. Verify current rebate availability at 603-229-2727.
Complete overview of all NHSaves programs.
$100 copay, 4-6 hours. Gateway to all NHSaves rebates.
75% off insulation. Pair with HPWH for maximum savings.
Free HPWH assistance through Home Performance Direct.
Air-source heat pump rebates from all 4 NH utilities.
Full conversion guide for oil-heated NH homes.
Replace your old water heater with a heat pump model and save $280/year on electricity. The $750 NHSaves rebate is available through all four NH utilities.
Learn more at nhsaves.com