GE's GeoSpring hybrid is an advanced water heater that's designed to provide homeowners with massive reductions in water heating bills. GE says that the GeoSpring is a result of totally rethinking the concept of water heating and features major redesigns in most aspects of its construction.
The GeoSpring was designed for maximum efficiency, and as such, it's the first heat pump water heater to receive an Energy Star rating. It uses a different heating process than traditional water heaters. GE built an evaporator and compressor into the electric water heater -- the evaporator draws in heat using fans, and condenser coils transfer heat into the tanks, which warms the water inside.
GE is confident that homeowners will see significant decreases in their heating costs. The company claims some users will see heating expenditures drop by more than 60 percent, which could save hundreds of dollars in a single year.