Yes! Homeowners installing a heat pump water heater in their primary residence can access a federal tax credit. Up until December 31st, 2022, the tax credit is $300 for units with a Uniform Energy Factor (UEF) of 2.2 or higher. From January 1, 2023, this tax credit could be worth up to $2,000, depending on your household income and which model you buy. Many utilities also offer rebates for heat pump water heaters. Duke Energy, for instance, offers a $350 rebate. You can also check the ENERGY STAR Rebate Finder and enter your zip code to see incentives available where you live. Low- to moderate-income families can also access grants and other incentives to install a heat pump water heater. The Department of Energy offers a Weatherization Assistance Program (WAP), for instance, which includes a home energy assessment and help with energy efficiency upgrades. The Low Income Energy Assistance Program (LIHEAP) also offers help with home repairs and upgrades, and many local electric utilities and states offer support for low-income customers.