7 Factors That Determine the Cost of a Hot Water System
Hot water is essential to every modern home or business in Australia. When you are choosing a hot water system, it is only natural to be concerned about the cost. How much you will pay for your hot water system depends on several factors. Here’s what you need to know to decide which product meets your needs and fits within your budget. We’ve broken it down for you into seven considerations.
Type and Size of System
Electric Hot Water Systems – Tank
Electric Hot Water Systems – Tankless
Gas Hot Water Systems – Tank
Gas Hot Water Systems – Tankless
Solar Hot Water Systems
Solar Hot Water Systems – Electric
Solar Hot Water Systems – Gas
Electric Hot Water Systems
For electric versions, you’ll see an even wider range of prices, from about $450 to $1,800. In an electrical system, the heating elements warm the water inside a large tank, typically holding anywhere from 25 to 400 litres. As you might expect, systems with larger tanks tend to cost more, while smaller tanks are usually more affordable.
There are also electric options that have no tank at all, instead heating the water rapidly only when you need it. Tankless models typically cost $660 to $1,300. If your hot water usage is on the lighter side, an instant water heater can save you a lot on your energy costs, as you won’t be maintaining the heat in the water at all times.
Gas Water Heaters
With gas systems that have tanks, prices range from about $850 to $1,500, depending on the size and quality of the system. Tank sizes typically range from 135 to 360 litres, and larger varieties usually come in at the higher end of the price range. As with electric systems, you’ll also find tankless gas models. These water heaters usually cost between $750 and $1,600.
Solar Hot Water Systems
Solar water heating systems have been growing in popularity in recent years, particularly in parts of the country that receive plenty of sunshine. These systems tend to be quite expensive, ranging from $3,600 to more than $4,400. However, if you plan on staying in your home for a while, you’ll get all of that money back and then some in terms of lower energy costs.
If your roof cannot accommodate the weight of a solar hot water system, or if your home doesn’t get as much sun as you would like, you may need a split system. This style of water heater utilises solar energy whenever possible and also includes an electric or gas heater to ensure the water is as hot as you like it. These varieties do tend to be more costly though, with electric models coming in from $3,900 to more than $5,000 and gas models between $4,900 and $6,500.
Heat pump water heaters operate similarly to heat pump heating systems in that they extract heat from the surrounding air and use it to heat the water. These systems are often highly energy-efficient, so you can save a lot on your operating costs. They do have one primary drawback though: noise. Heat pumps are typically much louder than other water heater styles. A heat pump hot water system will typically cost between $3,300 and $4,000, with those with larger tanks at the higher end of the scale.
When you buy a new hot water system, you’ll need to get all of the equipment to your property for installation. In most cases, the hot water company you choose will handle the delivery for you. You may, however, have to cover the cost, which is typically based on the size of the system and the distance it will need to travel. Heavier machines may require additional technicians to help with the moving and installation process, which will add to your delivery cost.
It is important to note that some service providers charge more for the same service than others. You may wish to contact several organisations for price quotes so that you know you are getting a fair rate.
You’ll also have to pay tradespeople for the labour involved in installing your new hot water system. The complexity of the job will play a major role in the costs involved. For example, if you are replacing an older water heater with a new one of the same type, your installation costs will be much lower than for someone who is switching from electric to gas, gas to solar or some other switch. A simple replacement will typically cost between $220 and $660.
If you wish to switch to a different style of hot water system, you may need to upgrade your pipes, valves or other fittings, and your property may require additional plumbing or electrical work to meet the requirements of the new system. Prices for these modifications range from $1,500 to $3,000, depending on the extent of the changes.
Finally, you may want to install your new water heater in a different location. Repositioning typically adds another $1,000 to $2,000 to your overall installation costs.
Accessibility is not a concern in all cases but can add significantly to the labour charges on your bill if your property does not have easy access. For example, if you live on the fifth floor of an apartment building that does not have lifts, the technicians will have to move your hot water system up five flights of stairs to reach your unit. This added effort is likely to result in additional charges. Similarly, if your water heater needs to be hoisted through an upper window using a crane, you’ll bear the brunt of the cost for that service. If, on the other hand, your system is being installed in an empty garage on the ground level, your labour rate will be much lower.
The Australian government offers a variety of incentives and rebates for homeowners who purchase energy-efficient hot water systems. You may be eligible to receive rebates of up to $1,200, depending on the specific system you have chosen. It can help to do some research in advance to identify systems that might be able to save you money.
System Removal and Disposal
Some hot water system installers will tack on an extra charge for removing your old water heater, while others will not. This charge is typically about $60, though it can vary from provider to provider. Check with your service provider of choice before you hire them to see whether or not they charge for removing your old system after they have installed your new one. You may be able to negotiate to have this charge removed from your bill if you sign up for ongoing hot water system maintenance or make a purchase above a certain amount. It never hurts to ask, so don’t be afraid to haggle.
When choosing which type of hot water system you prefer, you’ll also need to take into account the ongoing cost of running the system in addition to the original purchase price. Here’s what you can typically expect to pay over the course of a year, though your specific costs may vary:
$700 to $925
$295 to $665
$65 to $365
$160 to $385
High-Quality Hot Water Systems at Affordable Prices
Here at Fluid Plumbing Services, we work hard to keep our hot water system prices as affordable as possible without sacrificing on quality. We work with the top brands in the industry, so you can rest assured that you are getting a top-notch hot water system. We offer both gas and electric models, so you can choose the most appropriate system to meet your needs, preferences and budget.
Our expert technicians will come out to your location to get your system installed and can assist with the ongoing maintenance of that system as well. With regular service, your hot water system can continue to function at its optimal level for many years to come. Get in touch with us today to learn more about the hot water systems we have on offer. We’ll be happy to answer all of your questions and help you choose your new hot water system.
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