When it comes to saving money on energy bills, a heat pump water heater is a great option for Australian homeowners. Heat pump water heaters are highly efficient, using up to 70% less energy than traditional electric storage hot water systems. This can save you hundreds of dollars on your annual energy bills.
Heat pump water heaters are also environmentally friendly, as they use outside air and a compressor to generate hot water rather than relying on electricity, gas or oil. This means that you can reduce your carbon footprint and help the planet at the same time as saving money!
When it comes to installation costs, the price of a heat pump water heater will depend largely on the size and type of system you choose. Generally speaking, though, they tend to be more expensive than other types of hot water systems when it comes to initial purchasing costs. However, this is often offset by the reduction in energy bills that you’ll experience over time.
To give you an idea of how much you could save with a heat pump water heater, let’s say that you have an average-sized family home with an electric storage hot water system (with an efficiency rating of 3 stars). If your current system is costing you around $1,200 per year in electricity bills, then switching to a 5-star rated heat pump water heater could save you up to $840 annually (based on current electricity rates). That’s a significant amount of money!
Of course, this is just an example and your savings will depend on many factors such as the size and efficiency rating of your current system and the size and efficiency rating of any new system that you install. It is always best to speak with a qualified technician before making any decisions about replacing or upgrading your hot water system.
In conclusion, if you’re looking for ways to reduce your energy bills while also helping the environment then investing in a heat pump water heater could be beneficial for both your wallet and the planet!