My $300 heat pump water heater is saving me money, but my neighbor says his was a total waste.
I installed it last winter and my electric bill dropped about $40 a month, but my neighbor had one fail after 18 months and says the repair cost more than the savings, so what's the real deal on these things for cutting home emissions?
Ever look into who actually installed your neighbor's unit? A lot of the failures I've read about come from bad installs, not the heat pump itself. If the drain line isn't set right or it's in a cramped space without enough air, it'll die young no matter what brand you buy.
Seriously, is one neighbor's bad luck enough to write off the whole idea? Karen368 has a point about install problems being the real killer. Your bill dropped, his unit broke, so maybe the real deal is just finding a good installer who knows what they're doing, right?