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Hot water availability is one of the main factors that turns a house into a home for people. Other factors include electricity, gas for cooking, refrigeration for food, and having heating and cooling systems in select rooms of the house. If you want hot water in Ipswich, you’ll need to purchase a hot water system as well as look into the cost and pay for a hot water system installation, too.
If you’re in the market for a new hot water system, or your old one is starting to give you trouble, it’s important to know what to expect financially. In this blog post, we’ll take a look at the cost of installing different types of hot water systems, as well as some factors that can affect the final price. Keep reading for more information!
Types of Hot Water Systems
The type of system you purchase affects the cost of installing that hot water system. We’d like to emphasise that the purchasing price of the unit is separate from its installation cost. Did you know that buying a hot water system can cost $300 – $7,000 or more, depending on the type of system you choose? That’s a lot of money to spend on something many of us take for granted.
According to a governmental source, heating water contributes to 25% or more of an average household’s electricity bill. As for hot water usage, nearly 50% of it is utilised in the bathroom, 33.3% is used to do the laundry and 16.7% is taken up in the kitchen.
Let’s explore some of the factors that can affect the cost of a hot water system installation, as well as ways to reduce those costs. We’ll also provide some tips for choosing the right hot water system for your needs. So whether you’re in the market for a new hot water system or just want to learn more about them, read on!
Here’s a brief summary of how much various hot water systems cost:
- Electric systems are the cheapest, costing $300 – $1,500 each.
- Gas hot water systems are priced between $1,000 – $2,000.
- Heat pump systems have the second-highest purchasing price ($2,500 – $4,000 price range)
- Solar hot water systems (most expensive to purchase), ranging from $2,000 – $7,000 and up.
Hot water system installation cost
Installing a hot water system can cost up to $130/hr. it depends on how complex the task is. Whether you’re having an electric hot water system installed or a gas system, the installation costs will be similar (around $350 – $800). However, a solar hot water system installation will cost between $2,000 – $4,000.
Hot water system running cost
Although electric hot water systems are the cheapest to purchase (the ones with storage tanks), they’re the most expensive when it comes to running costs. In this regard,
Hot water heater replacement
Hot water systems generally last for 10 – l2 years before succumbing to rust, sediment deposits and failing parts that feature on an intermittent basis during their period of operation. It’s far less expensive to replace a hot water heater with another of the same type (for example, replacing a gas water heater with a newer gas hot water system).
Hot water heater replacement cost
If you’re simply replacing your old hot water system with a new one that’s the same type, then the installation cost is a mere $200 – $600 per unit. If you’re switching from an electric hot water system to a gas one, the installation cost can reach $1400. The cost of the hot water system itself is separate and as mentioned earlier in this blog post.
Reducing hot water system costs
By selecting an energy-efficient hot water system that’s the right size for you and your family, as well as the climate you’re living in, you can benefit from a significant reduction in your energy bill. Heat pumps and solar water systems are the most cost-efficient choices. Although they’re expensive to purchase, the fact is that their running costs are low. Both hot water system types are environmentally-friendly choices, as well.
Other steps you can take to lower your power bill are to keep the “eco” setting on when using electrical appliances, reduce the amount of hot water you and your family consume, and insulate your hot water pipes and tank (if you use it). Fixing taps and other fixtures and pipes that are leaking, and taking advantage of low-flow* or 3-star rated showerheads will help, as well. Water-efficient appliances can be found at Energy.gov.au.
An advantage you gain by insulating your hot water pipes and tank is that you can use a hot water system larger than what you and your family need – and still keep the energy bill lower than it would be without insulating them.
Note: Check with your hot water system manufacturer (if you’re using a continuous-flow water heater) whether the water-efficient or low-flow showerhead will work with your particular system or not.
Ipswich Hot Water is your one-stop shop for all things hot water system related. We can help you choose the perfect system for your home, install it quickly and efficiently, and provide maintenance and repair services when needed. If you’re in the market for a new hot water system or just have some questions about how they work, don’t hesitate to give us a call on 0431 478 631, or fill out a web form. We’d love to chat with you and answer any questions you may have.
