Okay, you just hopped in the shower, you need to get to work, but what do you know – you’ve got no hot water. That electric hot water system you’ve had for years has finally died.
But it’s easily fixed, right? Your plumber can bring around a new unit, install it in a few hours, cheap as chips, and you’re good for another ten years.
Wrong! That is a seriously bad idea. Let’s take a look at why.
The mistake that a lot of people make is to ask `What’s the least amount I need to pay to get out of trouble?’ And sure enough, the answer is, you can get a new electric hot water system for around $1500 or even less.
The problem is, you’re locking yourself in to high electricity bills for the next ten years or more – and that could be 10 to 15 years.
How bad does it get? Whether you’re in Canberra or Sydney, if yours is a typical household of say 3 people getting their electricity on the standard day rate is around $900 a year, as you can see here:
So the hot water system that only set you back $1500 is going to cost you another $9000 over 10 years! Even if you have it on the off-peak rate, you’ll still be up for at least $6,000 over 10 years, and that’s on top of the purchase price.
What are your alternatives?
Enter heat pump hot water systems. These great little performers draw the heating energy out of the surrounding air, and use it to heat up your water. Click on this link to find out how heat pump hot water systems work.
The thing is, they will slash your running costs by around 60% compared to an electric hot water system on the day tariff. And if you have solar panels on your roof, you can slash your running costs by 90%, as you can see here:
At the end of the day, you’re getting free water heating out of thin air! All you pay for is the low running cost of the heat pump itself.
And because of those very low running costs, heat pump hot water systems pay for themselves within 5 years in most cases. And that’s even though they are more expensive upfront than a cheap electric HWS. To find out more, see our heat pump hot water system pricing.
If that all sounds good to you, give us a call on the number below, or send us a message via our contact form.