Geospring hot water heater opinions

JMphotoDecember 12, 2012

We built a new home last year and I should have done more research on hot water heaters, my fault. We have a 3000 sq ft home, 3 people 2 and 1/2 baths. We have a 50 gal electric HW heater (Lochinvar) and it does fine, never ran out or anything. But another contractor who came to put our water filtration in asked why I didnt consider the GE Geospring. I admitted I was not familiar with the unit. I would love to reduce our electric cost. Lowes has them on sale right now and I would also get a $300 rebate from our electric provider. We do not have natural gas in our area. We have an air source heat pump for HVAC. We do have propane, but only for the fireplace which we use only occasional. Would it make sense for me to consider swapping out the unit being that it is on sale and with a rebate? What are the downsides? If it is exchanging heat from basement (which ranges between 60 and 63 during the winter) will it make the basement colder? Someone said it takes the need away for a dehumidifier in the basement during summer...true or false? Sorry for the questions, but you guys always have the answers here.
Thanks, Jason

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