Having hot, running water couldn’t be more important for busy modern households, and if you’re having consistent issues with your hot water system, you may be considering an upgrade.
If you’ve been thinking about replacing your outdated hot water system, we’ve taken a look at what costs are involved and what type of system might be best for you.
What Are the Costs Involved in a Hot Water System Installation?
In general, prices start from around $450 for a small electric storage hot water system and can cost as much as $6,800 for a solar split system with a gas boost.
How Much do Electrical Hot Water Systems Cost?
If you’re thinking about installing an electric hot water system, the cost will depend on how large the tank is and whether you have a storage system or an instant water heating system.
Electric hot water systems are usually the lowest cost option, with prices for a small system starting at around $450 and going up to $1600 for an instant hot water system with limitless hot water. An instant electric hot water system can be a great option for smaller spaces like apartments or annexes, with small tank options available.
Is a Gas Hot Water System More Expensive?
Though initially more expensive to install, gas hot water systems can be a good option for lower running costs over time. Gas hot water systems also come in two main types: gas hot water storage tanks and gas continuous flow hot water systems.
Both systems are similarly priced, with instant systems ranging from around $750-$1800 and gas storage systems costing around $900-$1700.
The Costs of a Solar Hot Water System
More and more families in Australia are choosing to utilise solar technology for an eco-friendly and cost-efficient hot water system. There is a range of different options available and you can also have a gas or electric boost function to ensure hot water no matter what the weather.
A solar roof-mounted system with an electric boost starts from around $3600 whilst a split system with an electric boost starts from $3900. If you want a solar split system with a gas boost, it can cost between $4900 and $6800, however, it’s important to remember that you will save money for decades on your energy bills.