Replace your electric water heater with Solar Hot Water and SAVE up to $4,000* in Government Rebates and RECS with Modern Solar. The Government is aiming to phase out electric water heaters and giving eligible households a generous $1,600 rebate for making the switch! On top of this when you assign your RECs to Modern you will save even more. Your savings will begin as early as your first electricity bill, giving you back as much as $700 annually on your power bill.