How Much Is a Heat Pump Hot Water System?

Over the years, new and improved hot water heating systems using heat pumps have gained significant consumer attention due to their energy efficiency, cost savings, and environmental friendliness. Traditionally one of the biggest reasons for not installing a heat pump is the benefit in energy savings did not outweigh the cost of installation. That’s why this landed in the too hard basket and installing a heat pump was not as widely considered.

Since then gas prices have skyrocketed, and the government is doing everything they can to help ‘degassify’ homes and make them more future proof and efficient. At Carbon Savers, we aim to assist households in moving away from gas consumption by installing energy-efficient appliances like heat pumps and efficient electric heating and cooling systems These two appliances alone account for most of a households gas bill, switching these over to electric and getting a solar system to do the heavy lifting of powering them is how we are helping customers save thousands and join the charge in lowering our overall environmental impact.

Average Cost of Heat Pump Hot Water Systems

The price of a heat pump hot water system can vary based on your choice of size and manufacturer. Typically, the cost of such hot water systems is between $2500 – $6000, covering both the cost of the system and the installation as well. Below are some of the factors which affect these costs:

1. Unit Cost

Mid-Range Systems: The initial pricing of the average heat pump water heater system rating over 200 liters is as low as $2000. However, for tanks with large sizes like 250-300 liters, expect a stable price range of between $2500 and $3500. Premium manufacturers such as Reclaim Energy or Sanden, the unit alone may range from $5000 to $6000.
Size: The cost is considerably affected by the dimension of the tank. For instance, bigger tanks (up to 315 liters) tend to be much more expensive because they can supply hot water more efficiently, which is perfect for families and residences that use more hot water.

2. Installation Cost

Basic Installations: Assuming you are uninstalling an electric water heater and installing a new one in its place, the installation can be uncomplicated. Costs in this regard generally range from $600 to $800. Plumbers with limited electrical licenses can also connect the water as well as the electric connections in this case.
Complex Installations: In the case of a gas system conversion, one can expect installation costs to vary from $1,000 and $1,400. The process entails extending the existing electrical circuit, thus the need for a qualified plumber as well as an electrician. Other parameters such as where the new heat pump will be placed, the additional pipework that will be needed, and the distance of the switchboard may also escalate the cost incurred.

3. Government Rebates and Discounts

1. Federal STC Rebate

Small-scale Technology Certificates (STCs) are provided under the Australian government’s scheme aimed at reducing carbon emissions. The quantity of STCs you get depends on the geographical position and design of the installed heat pump. Each certificate can be traded for $36, giving the potential for a rebate between $576 to $792 for eligible models.

2. State Rebates (NSW and Victoria)

NSW HEER Rebate: Homeowners in the New South Wales region, who are upgrading to heat pump hot water systems will be able to take advantage of this rebate, which creates Energy Saving Certificates (ESCs) that can be sold to provide a rebate. This may be $485 or averaged up to $970 distributed depending on the type of upgrade.
Victoria Solar Hot Water Rebate: As part of the Solar Victoria program, qualifying residents of Victoria can receive a rebate of $1,000 as long as they satisfy the income limits, property value, and lodging installation requirements.

To know more about the available rebates and possible savings, you may contact us for further assistance.

Beware of Too Good to Be True Offers

Discounts and rebates are effective strategies that can reduce the cost; however, one needs to be wary of offers that are too cheap. Carbon Savers also provides the guarantee that all the products and installations offered are of the highest standard in terms of efficiency, durability, and performance. That way, customers are guaranteed to enjoy maximum savings and energy efficiency over the long run without compromising on quality.

Long-Term Savings with Heat Pumps

Once again, a heat pump hot water system is one of those systems that pays off in the long run. Households can save $372-$680 every year on heating costs just by swapping out their old gas or electric systems for high-efficiency heat pumps. At Carbon Savers, we aim to advise our clients in a way that helps them make the most energy-efficient decisions possible which in turn helps to minimize gas consumption in the households. Over the years, the estimated total of these savings can reach a great amount of dollars which makes it an ecologically and economically reasonable amenity.

Contact Carbon Savers for the Latest Quotations

The pricing of a heat pump water system is influenced by a variety of factors including the size of the unit, installation complexity, and available rebates. Although the upfront cost may appear substantial, the recurring benefits in terms of energy efficiency and environmental considerations are justifiable.

For the ideal price on a heat pump hot water system and up-to-date quote, contact us today. Their experts will help you throughout the process, including how to choose the right model and how to apply for rebates to ensure your maximum return on investment.