Lowe’s: First Home Improvement Retailer to Turn Up the Heat on GE Hybrid Water Heaters Sales

Lowe’s stores have made it even more convenient for consumers to save significant money on their electric bill and reduce their personal carbon footprint by offering GE’s Hybrid Water Heater which is up to 62 percent more efficient than a traditional electric water heater and can save as much as $320 annually.**

"We are thrilled to have Lowe’s as our retail partner in the home improvement channel for the GE Hybrid Water Heater,” said GE Appliances & Lighting President and CEO James Campbell. "Their decision to carry the GE Hybrid Water Heater demonstrates their commitment to offering their shoppers the latest, innovative, energy-efficient solutions as we all look for ways to save energy, save money and help protect the environment.”

Lowe’s, 2009 ENERGY STAR Retail Partner of the Year, will now carry the GE Hybrid Water Heater nationally in about 650 stores and will take special orders in the remaining locations. The water heater will also be in the Lowe’s California "Energy Centers”, which offer a one-stop destination to create an energy plan that fits their consumers’ budget and home improvement goals.

"Lowe’s is always looking for new ways to better serve our customers and help them save money by making their home more energy efficient,” said Clint Davis, senior vice president of merchandising for Lowe’s. "The innovative hybrid water heater from GE will be a product our customers will know is good for their home, their wallet and the environment.”

About the GE Hybrid Water Heater

Hybrid Energy Savings

By utilizing heat pump technology in combination with traditional electric resistance elements, the GE Hybrid Water Heater pulls heat from surrounding air and transfers it to the tank to heat the water. This innovative process creates the same amount of hot water as a traditional electric water heater, but can reduce the energy required to heat the water by up to 62 percent and that could have a dramatic impact on monthly utility bills and the environment. The new GE Hybrid Water Heater:

• Results in energy savings of $320 per year, which can add up to roughly $3,200 in savings over the 10–year warranty period
• Is ENERGY STAR® qualified and exceeds the minimum requirements of 2.0 Energy Factor (EF) with a 2.35 EF
• Qualifies for the Federal Residential Energy Efficiency Tax Credit worth 30 percent of the product and installation cost

Advanced Electronic Control

The GE Hybrid Water Heater features a user–friendly electronic control system that offers both simplicity and flexibility, giving consumers as much or as little control of operating modes as they like: Set the thermostat and forget it or easily change the desired water temperature or operating mode to maximize energy efficiency. Visit the GE Hybrid Water Heater website for additional information including explanations of the consumer selected energy modes of operation.

Consumer Resources/Rebates

If all that isn’t incentive enough to purchase this new water heater, consumers may also qualify for a federal tax credit of 30 percent on the purchase and installation price of an ENERGY STAR® qualified heat pump water heater. Some restrictions may apply. Additional local, state, or utility incentives may also be available and vary by state. Consumers can go to their state department of revenue office for more information. Or to find what utility rebates may apply on ENERGY STAR® qualified electric water heaters visit www.dsireusa.org.

In addition, with the press of a button on the easy–to–use control panel, you can select any of four energy modes that best suit your hot water needs, including options for when you have extra guests or when you are on vacation. For more information on this innovative product and explanations of consumer selected energy modes of operation, visit www.geappliances.com/hybrid.

The new GE Hybrid Water Heater, model GEH50DNSRSA, became available to consumers in November 2009.

*Learn more about GE Hybrid Water Heater Award: http://www.geconsumerproducts.com/pressroom/press_releases/appliances/water_systems/Popular_Science_2009.htm

** Based on DOE test procedure and comparison of a 50–gallon standard electric tank water heater using 4881 kWh per year vs. the GE Hybrid Water Heater using 1856 kWh per year, and national average of 10.65 cents per kWh

About Lowe’s

With fiscal 2008 sales of $48.2 billion, Lowe’s Companies, Inc. is a FORTUNE® 50 company that serves approximately 14 million customers a week at more than 1,700 home improvement stores in the United States and Canada. Founded in 1946 and based in Mooresville, N.C., Lowe’s is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

About GE Appliances & Lighting

GE Appliances & Lighting spans the globe as an industry leader in major appliances, lighting, systems and services for commercial, industrial and residential use. Technology innovation and the company’s ecomagination^SM initiative enable GE Appliances & Lighting to aggressively bring to market products and solutions that help customers meet pressing environmental challenges. General Electric (NYSE: GE), imagination at work, sells products under the Monogram®, Profile™, GE®, Hotpoint®, Reveal® and Energy Smart® consumer brands, and Tetra®, Vio™ and Immersion® commercial brands. For more information, consumers may visit www.ge.com.

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