Costs on Hot Water Systems

Did you know that for the average household, a hot water system will account for around a quarter of your energy bill?

In fact, water heaters are generally thought to be one of the most significant contributors to household energy usage and expenditure – second only to heating and cooling. It accounts for about 21% of the energy and generates about 23% of the greenhouse gas emissions (DCCEE 2010). In Australia, about 48% of the energy used for water heating comes from natural gas, 45% from electricity, 3% from liquefied petroleum gas (LPG) and 4% from solar (DCCEE 2012). Electric water heaters in particular contribute to these emissions: only half of Australian homes use electric water heaters, but they contribute 80% of hot water greenhouse emissions. Reducing your hot water use and using renewable energy sources to heat water are great ways to reduce your environmental impact.

Heating water accounts for 23% of the energy used in an average home and is mostly used in the bathroom, kitchen and laundry. It takes a lot of energy to heat water, so when you use hot water you’re paying two costs – one for the water you use and another for the energy to heat it.

If your water heater is old and needs replacing, you should consider the ongoing running costs as well as the purchase price when choosing what to buy. Choosing an efficient model with lower running costs could save you money overall.

Master Plumbers SA

All plumbers at Sharpe Plumbing are Master Plumbers, certified to the highest Australian standards. Our master plumbers in SA are proud to uphold the highest standard for plumbing services in Adelaide. The next time you need a “local plumber near me”, call on Sharpe Plumbing for the best plumbers in Adelaide. We don’t have any subcontractors, only in-house fully licensed local plumbers.

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Water Heating Running Costs

Water heaters last for many years, so it’s important to consider the ongoing running costs as well as purchase price. While some efficient models may cost more to buy, they may cost less to run and therefore save you money in the long run. Some retailers let you pay for your heater in instalments, meaning you don’t need to have as much money available upfront.

INSTALLATION COSTS

The cost of buying and installing a new Hot Water System is only one part of the overall cost you need to look at. It is however, the one cost that most of us focus on as it affacts us now.

RUNNING COSTS

Deciding on the right hot water system for your home is very important as it will affect the energy bill for years to come.

ENVIRONMENTAL COSTS

The final cost of your new Hot Water System that you need to consider is the environmental cost, or the CO2 impact.

Assistance with purchase costs

Small-scale technology certificate

Installing an eligible solar or electric heat pump water heater entitles you to Small-scale technology certificates (STCs). Each STC represents an amount of electricity in megawatt hours generated by the system over the course of its lifetime (up to 10 years) that offsets what your home would otherwise draw from the main electricity grid. The more electricity your system can displace, the more STCs you will get.

The STCs act as a form of currency and can be sold to recoup a portion of the cost of purchasing and installing the system. The most common way of selling STCs is by getting a point of sale discount on your new system from your retailer or installer and assigning the STCs to them.