Whether you are installing a new hot water system or replacing an old system in your home or place of business, the cost will be a major factor. How do you determine how much the system is going to cost? There are many factors involved in the cost. It is not just the price of the water heater. Besides, you have to consider the different types of systems, including gas, electric, and solar water heater systems and the differences in their prices.
So, how do you calculate the cost of your hot water system? Find out in this guide.
1. Type & Size of the Hot Water System
Start by considering the size of the system you need. The size of your household and the water usage will determine the size of your hot water unit. The decision of the type of unit, as mentioned below, will be based on the energy source available to your home or business:
i. Electric Water Heaters
These systems are powered by electricity to heat up water. Their key features include:
- Tanks can have 24 litres to 400 litres capacity
- Prices can range from $450 to $1800, based on the size of the tank
- Tankless electric water heaters can cost $600 to $1300
Tankless systems can save you money in the long term.
ii. Gas Hot Water Systems
These systems are also available in tank and tankless options. Key features are as follows:
- They use natural gas for heating
- Tank capacities range between 135 litres and 360 litres
- Tank models can cost in the $800 and $1500 range
- Tank models can cost up to $1600
iii. Solar Water Heaters
Solar hot water systems continue to grow in terms of popularity, especially fueled by the demand for environment-friendly systems.
- You can expect to spend over $3600 on these units
- The cost can be recovered over the lifetime of the system
- Make sure you get enough sunshine in your area
When it comes to water heaters running with heat pumps, you should expect to spend $3300 to $4000 on these units. They are energy-efficient systems and help you recoup the cost over time.
2. Cost of Installation
The next factor that affects the cost of your hot water system is the cost of installation, especially the labour costs. Consider the following points in this regard:
- How complex the installation job is?
- Is a replacement job involved?
- Installation of different types of systems will increase the cost due to the need for new fitting and pipes
- A normal installation can cost $200 to $600
- Complex tasks involving a change of type of system can cost in the thousands
- Moving the water heater to another place can further increase the cost by $1000 to $2000
Accessibility challenges can also add to the cost. Further, a hot water system will need regular maintenance to keep it functioning smoothly. Adding to that, you will have to ensure that there are no leaks, damage, or blocked pressure in the system which could be hazardous for the people using it. Talking to a hot water repairs Adelaide on these matters could help you calculate costs and budget accordingly.
3. Ongoing Cost of Operation
The cost of ownership of a hot water system is also an important factor. It will also affect how much you spend out of your pocket in the long term. When choosing a type of system, it is important to discuss the operational costs with your Plumber Sydney.
The typical cost of operating the different systems is as follows:
- Electric: Up to $900
- Gas: Up to $700
- Solar: Up to $400
- Heat Pump: Up to $400
The size of your hot water system and usage also affect the cost of operation. You should also consider the rebates provided by the government when calculating the overall costs.