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Best Bang For The Buck Rheem Performance Platinum 50-Gallon Water Heater. Shop Now at Lowe’s. We offer a $50 rebate when you purchase a new, qualified energy-efficient gas water heater. All NHW-SE units include built-in recirculation control and software, and a water adjustment valve (WAV) and mixing valve to stabilize temperature during flow changes. 1-12 of 361 results for Water Water Heaters Eligible for Instant Discounts Natural Gas Water Heater. Applicants must convert from an existing gas water heater to a hybrid (heat pump) water heater; eligible water heaters must use air transfer technology to heat water (other types of high efficiency water heaters do not qualify; tankless water heaters do not qualify). $1490. 99 Get it as soon as Thursday, Jan 16 Gas storage water heaters. Products must meet minimum requirements for energy efficiency, hot water delivery, warranty period, and safety. 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