If you’re an Australian homeowner looking to save on your energy bills, you might be considering investing in a new water heating system. You might be wondering how to compare the lifecycle costs of an air source heat pump water heater with other options. In this article, we’ll help you break down the costs so you can make an informed decision.
The total cost of a water heating system includes the initial purchase and installation costs, plus ongoing maintenance and energy costs. You’ll want to consider each of these before making your choice.
Let’s start with installation charges. An air source heat pump water heater (ASHPWH) may be more expensive than other types of water heaters because it requires professional installation due to its complexity. While the long-term savings may outweigh the upfront cost, it’s important to factor this in when comparing systems.
When it comes to ongoing maintenance, ASHPWHs generally require less maintenance than other types of systems since they don’t use any fuel or combustion processes. However, they will need regular servicing every two to three years – including filter cleaning and refrigerant top-ups – which will add to the lifecycle cost of the system.
Now let’s look at energy costs. Depending on where you live in Australia, electricity can be up to three times more expensive than natural gas for home heating and hot water systems. However, ASHPWHs are highly efficient and use less electricity than electric storage systems or gas systems due to their ability to extract heat from the air instead of generating it themselves. This means they can save you money over time – but do your own calculations based on energy prices in your area before making a decision!
Finally, consider the lifespan of each system when comparing lifecycle costs. Most ASHPWHs will last up to 20 years or more with proper maintenance – however electric storage systems usually need replacing after 8-12 years due to mineral build-up in their tanks leading them to corrode faster than other systems. This means that while upfront costs may be lower for electric storage systems, they won’t last as long as ASHPWHs so you’ll have higher replacement costs in the long run.
We hope this information has been helpful as you weigh up your options for a new water heating system – but remember: do your own research and calculations based on energy prices in your area before making any decisions!