Is it time to replace your existing hot water system? There’s more to consider than just the initial cost of a new system. From long-term energy savings with energy-efficient systems to how much you can expect to pay to switch systems, here are all the factors that affect the cost of a new hot water system beyond the initial outlay for the system itself.
Here are some factors to consider when calculating the replacement cost of your hot water system.
While electric water heaters are cheaper to buy, they are more expensive to run than gas, solar and heat pump water heaters. If you’re upgrading from an electric hot water system, don’t forget to weigh up the cost of changing to a more energy-efficient system to lower your running costs. Be sure to factor in both the purchase price and the running costs over time.
To calculate the size of the hot water system you will need, look at how much hot water your entire home uses, not just how many people live in the home. How many bathrooms do you have? Do you have water-saving fittings? Use an online calculator to help you find the right size, as choosing the wrong one could result in unnecessarily high energy bills or frequent shortages.
Water heating makes up around a third of a home’s energy usage. Although a hot water system with a higher star rating can have a higher upfront cost, your long term energy bills will be lower.
Installation complexity is reduced if you are replacing like for like, but if you’re switching from electric to a solar hot water system, for example, extra set-up costs will apply. Even switching from an older electric system may require plumbing or electrical upgrades, so be sure to ask your plumber about any changes to help you make the right decision.
Features like timer control, Wi-Fi monitoring, and fast heating can increase the total cost of your hot water system, but they can help you save money over time and lower your carbon footprint.
Labour costs to install your new hot water system can vary greatly depending on the complexity of the installation. For example, if you are installing a gas hot water system for the first time, you’ll need to have gas lines installed, which can add thousands of dollars to your total installation costs.
If you are installing like-for-like systems, installation is likely to be more straightforward. However, the ease with which you can access the system can also affect the cost, with roof access or confined spaces likely to incur higher costs.
The age of your existing plumbing and hot water system can also influence how much installation of a new system will cost. For example, if you have an older electric hot water system, your plumbing may require significant upgrades before a new system can be fitted.
Other factors that can affect the overall cost of a new hot water system include:
A hot water system isn’t something you want to be without for too long, so choose a company that offers same-day service. At Same Day Hot Water Service, we offer hot water sales and installation for all types of systems to get your hot water flowing again as soon as possible.
Reading online customer reviews can help you decide if a hot water system company is an experienced and reputable company, as can their warranty terms. Look for warranties that cover not only the system but also labour.
Here are our top ways to save money on your new hot water system.
Even if your hot water system is still operating, it’s often a smart move to upgrade, particularly if it’s nearing the end of its lifespan. A new hot water system is likely to be more energy efficient, can take up less space and deliver hot water faster, helping you to save water.
You may also need to replace your hot water system if your usage requirements have changed. For example, if you have renovated or your family has grown. If your existing system is leaking or delivers poor pressure, it’s another sure sign that it’s time to consider investing in a new hot water system.
Here’s a rough guide to how much you can expect to pay for different types of water heaters and their installation costs.
Whether you’re looking for a reliable source of hot water, like an instantaneous system, or one that’s more energy efficient, like a solar water heater,
Same Day Hot Water Service has a huge range to match every need. Visit our website to find the right type of water heater for your home or call us on 1300 721 996 to have your hot water questions answered by our friendly team of experts.
If your hot water system uses a different fuel type, needs to be relocated or requires significant plumbing upgrades, the installation process can be more expensive. Shopping around for the best value system you can find can help offset some of these installation costs.
A new water heater can cost anywhere from $1000-$5000, depending on the type and installation challenges.
Installation costs can be a significant factor affecting the final cost of a new hot water system. Therefore, it’s important to speak to a hot water expert who can help you limit unexpected installation costs.
High hot water costs can be due to a system that’s not matched to your requirements, your usage habits and system inefficiencies like a lack of insulation on pipes.