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GE Appliances. The GeoSpring hybrid electric heat-pump water heater combines energy-saving heat-pump technology with a traditional electric heating system. Using 62% less electricity than a standard electric water heater, the GeoSpring costs an average of $195 to operate annually, the company says, and it has the same footprint and electrical connections as a standard electric water heater. 800.626.2005. www.geappliances.com.