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.
Here are some key factors when purchasing a brand-new hot water unit. Looking at it holistically will ensure you make the best-informed 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
Each hot water system company or plumbing team works differently regarding their pricing and how they calculate the costs involved for the job. Some companies will factor in the size of the unit. The price for a tank that is only 15 kg may differ from a large 350ml tank that will require more than one technician.
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.
Changing your energy source from gas to electric or vice versa will increase the time because additional work will be needed. You may also need to upgrade your plumbing or electrical systems during installation.
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
When installing hot water systems, having clear access will make all the difference in pricing. Larger, commercial-sized tanks may need cranes and heavy lifting equipment. High roofs and tight staircases could prove difficult and require extra labour costs.
Government Rebates
The Australian government offers incentives when you purchase new water heaters. Significant incentives for solar units, in particular, can lower the cost of purchasing and installing them.
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.
Need a Plumbing Service?
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.
