Heat pump water heater prices
35 heat pump (hybrid) water heaters from 8 stores, including 120 V plug-in models, sorted by price per gallon of tank. They use a third to a quarter of the electricity of a standard electric tank.
Not sure what size you need? Enter your household and the calculator picks the cheapest heaters that keep up, with running costs.
Best value ($/gal)
$27.94
Rheem Performance Platinum 80 Gal. Smart Hybrid Heat Pump Water Heater · The Home Depot
Cheapest heater
$1,699
Rheem Performance Platinum 50 Gal. Smart Hybrid Heat Pump Water Heater · The Home Depot
Typical $/gal
$42.08
Median across 40 in-stock listings
All stores
All brands
$/gal is the price divided by tank capacity. Compare the first-hour rating (FHR) too: it is what decides whether a tank keeps up with your busiest hour. The sizing calculator works out the FHR your household needs and the running cost.
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What to check before buying a heat pump water heater
Space and air. A heat pump water heater pulls heat from the room it stands in. Most makers ask for about 700 cubic feet of air (a 10×10 ft room with an 8 ft ceiling) or a louvered door, an ambient temperature that stays above roughly 37 to 40 °F, a condensate drain, and extra height compared with a standard tank.
120 V or 240 V. 240 V hybrids have resistance backup elements for fast recovery and replace an electric tank on its existing circuit. 120 V plug-in models run on an ordinary outlet, which makes them the easy swap for a gas tank; they recover more slowly, so buy one size up.
Rebates. The federal 25C tax credit ended for equipment installed after December 31, 2025. Many utilities and state programs still offer $300 to $1,000+ rebates on ENERGY STAR heat pump water heaters; check yours before buying.