A hot water system is one of life’s little luxuries. Having heated water for your business and home is essential. Washing, cooking, and cleaning tasks are carried out quickly and efficiently.
When your water heater breaks down, or you are looking for an upgrade, the task can be daunting. Choosing the right tank can be confusing, as there are many brands and models on the market. Finding the best system for your needs is hard.
When buying a new hot water unit, it’s crucial to consider several key factors. Taking a holistic approach will help you make the best decision for your home.
Household
Every home is different, and you must consider how the water system is used. Typically, a family of four will use more hot water than a single person living daily. Is the water tank used for domestic purposes, such as general washing and cleaning, or commercially, such as with a restaurant building?
Lifestyle plays a big part when factoring in the size of a hot water system. When is hot water used most of the day, and how long are some of the questions a fully licensed plumber can ask when helping you purchase your new unit? It would help to choose an energy-efficient tank large enough for your household needs.
Unit size and type
The price of a hot water system varies depending on what type of system you want. There are four main types and different sub-types you can choose from. You have electric, gas, and solar hot water systems and heat pump water heaters.
Each of these has its subcategory. Electric storage, instantaneous, gas storage, gas quick, solar split system, electric boost, solar split system or a gas boost.
Hot Water Systems
Electric Storage System
Water is heated, stored in the tank, and ready to be used. Heating is done through an element at the bottom of the tank.
Electric Continuous Flow (Instant)
Water is heated only when it is required. They are often known as ’tankless water systems’.
Gas Water Heater
As with electric hot water systems, gas water heaters or gas hot water systems come in tankless and storage systems. They heat water through a burner.
Solar
These systems generate heat from the sun. They use panels that are mounted on the roof.
Heat Pump
They are similar to Solar units, with the difference being that water is heated using air conditioning technology. Heat is extracted from the ambient air and used to heat the water. They are mostly installed outdoors and need a warmer climate.
Hot Water System Prices (Avg. Minimum. Maximum Price)
- Electric – “Storage” type $450 (25L) $1800 (400L)
- Electric – “Instant” type $660 $1300
- Gas – “Storage” type $850 (135L) $1500 (360L)
- Gas – “Instant” type $750 $1600
- Solar–Roof Mounted (electric boost) $3600 $4400
- Solar Split System (electric boost) $3900 $5000+
- Solar – Split System (gas boost) $4900 $6500+
- Solar – Evacuated tube $4000 $5500
- Heat Pump $3300 (160L) $4000 (315L)
Delivery Costs
Different hot water system companies have their own pricing strategies. They might consider the unit size; for example, a 15 kg tank will be priced differently than a larger 350ml tank that needs more than one technician to handle.
Installation
The installation costs of your new hot water system can change depending on how complicated the work is.
A lot can change during installation, and you need to remember that. Variables such as the installation time can take longer than expected. A standard straight swap shouldn’t take longer than 2 hours, but it’s always best to leave room for unforeseen changes.
Switching from gas to electric or the other way around will take more time, as it involves extra work. You might also have to upgrade your plumbing or electrical setup when doing so.
As well as changing the water heater’s position to a different area of your property. Ensuring the tank fits correctly requires time.
Relocating a water heater or changing its energy source will impact the costs.
Access
Clear access during installation can significantly impact pricing. Larger commercial tanks might need cranes or heavy equipment. If your property has high roofs or tight staircases, extra labour costs could arise.
Government Rebates
The Australian government provides incentives for buying new water heaters, especially solar ones. These incentives can help reduce the overall purchase and installation costs.
Disposal
You can ask your licensed plumber for additional disposal costs. Correct and responsible disposal of your old tank or old hot water system is required and added to your quotation.
Running Costs
Our guidelines below state the annual running costs of your unit, depending on the energy rating, energy type and tariff.
Electric
- Storage tank Peak tariff = up to $950.
- Instant tankless Peak tariff = up to $785.
- Storage tank Off-Peak tariff = up to $800.
Natural Gas Hot Water
Storage tank:
- Four energy star rating = up to $440.
- 5.5 energy star rating = up to $350.
Instant tankless:
- 5.5 energy star rating = up to $345.
- Seven energy star rating = up to $295.
LPG (Bottle gas)
Storage tank:
- 5.5 energy star rating = up to $565.
- Four energy star rating = up to $680.
Instant tankless:
- 5.5 energy star rating = up to $540.
- Seven energy star rating = up to $470.
Solar
Electric boosted storage tanks:
- Peak tariff standard = up to $370.
- High efficiency = up to $275.
- Off-peak tariff standard = up to $260.
- High efficiency = up to $180.
Natural Gas Boosted:
- Standard = up to $95.
- High efficiency = up to $75.
LPG ( Bottle gas )
- Standard = up to $140.
- High efficiency = up to $100.
Heat Pump
Electric boosted storage tank:
- Peak tariff standard = up to $390.
- High efficiency = up to $270.
- Off-peak tariff standard = up to $240.
- High efficiency = up to $180.
Fixed Today can assist you with choosing the correct hot water system for your property.
Fixed Today will take a holistic approach and discuss your options for a new water system or installation. Our team will work with your lifestyle and needs and consider your budget.
All information will be communicated, giving you peace of mind when calculating the costs of purchasing a new hot water system.
