A new solution aimed at reducing the electricity used for heating water, is now available to South African households.

The Integrated Heat Pump (IHP) geyser is described as an energy efficient water heating system designed to reduce electricity bills while providing instant hot water. A partnership between Nedbank and online shopping app Avo, aims to make the systems more affordable and accessible to consumers.

“With electricity tariffs increasing each year, households need smarter solutions to manage their costs,” says Nedbank executive: Beyond Banking Dean Harvey. “The IHP geyser offers immediate relief by dramatically lowering water heating expenses. It's a reliable, eco-friendly option that pays for itself quickly and then saves you money over the long term.'

Unlike traditional geysers that are required to operate for long periods to maintain water temperature, and solar geysers that may not heat water sufficiently in overcast weather, an IHP geyser is designed to provide a steady flow of hot water while using minimal electricity.

Powered by advanced heat pump technology and featuring four-layer insulation, the  geyser uses just 0.63 kW of power to provide the same amount of hot water as a conventional system that consumes up to 3.5 kW. The result is immediate access to hot water and an energy saving of up to 84%, helping to reduce a household’s total electricity bill.

The technology also ensures reliable temperature control and safety, reducing the risk of a geyser bursting. The durable, stainless-steel construction enables the geyser to withstand harsh conditions and promises an average lifespan of 10 years. The system is Wi-Fi enabled and equipped with smart technology, allowing users to control and monitor the geyser remotely on a mobile app. The geyser system is also more environment-friendly, reducing energy usage and electricity demand.

The cost of an IHP geyser on the Avo app ranges from R18 999 for a 100 ℓ geyser, R25 199 for a 200 ℓ geyser, and R32 999 for a 300 ℓ option. Customers can also buy an installation voucher that affords customers access to an Institute of Plumbing South Africa-accredited plumber to install the appliances.

“Homeowners who install an IHP geyser can expect a return on their investment within 9 to 18 months,” asserts Harvey, adding that households will continue to benefit from electricity savings on an ongoing basis.

Nedbank says it offers flexible and affordable financing solutions to help consumers pay for the costs and installation of the geyser. Options include an interest-free instalment plan that allows for repayment over 3 months, or a tailored personal loan repaid over a longer period at a competitive interest rate.