Most water heaters consume massive amounts of power, ratcheting up families’ energy bills in the process. The designers at Heatworks are looking to fix that with the MODEL 3 Smart Water Heater. Unlike other heaters, which heat water in a tank using metal components, the MODEL 3 sends electrical current through the water, heating it up quickly and only when residents actually need it. Using a companion app, owners can also track their water usage, set a maximum temperature and even limit shower times, further helping to curtail costs. At $799, the MODEL 3 is more expensive than many other water heaters, but the energy savings may well add up fast: Heatworks estimates that the device will save the average family of four $240 a year. —Justin Worland
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