Hot Water System Costs
Typical installed prices:
- Electric storage (125L): $900-1,400
- Electric storage (250L): $1,100-1,800
- Gas storage (135L): $1,200-1,800
- Gas continuous: $1,600-2,500
- Heat pump: $3,000-5,000
- Solar (with electric boost): $4,000-7,000
Running Costs (Annual)
- Electric storage: $500-800
- Gas storage: $300-500
- Gas continuous: $250-400
- Heat pump: $150-300
- Solar: $50-150
System Sizing
- 1-2 people: 125-160L storage
- 3-4 people: 250-315L storage
- 5+ people: 315-400L storage or continuous
Rebates
Government rebates may be available for:
- Heat pump systems
- Solar hot water
- Replacing electric with efficient systems
Check your state's energy efficiency schemes.