Having hot water in your home is a top priority. Besides keeping us warm during the cold days; the system will help with cleaning our dirty clothes and dishes. Naturally, especially in Australia, we can’t live without hot water. This only shows that a hot water system in our home is a must.

If you’re becoming independent, moving out, and exploring the world on your own, you should probably research hot water installations. They’re expensive, but they’re a necessity!

To learn more about hot water systems and their prices, we’re here to make your life easier.

Sizing Costs

Here is the typical breakdown of prices depending on the size of the tank

SIZE PRICE

30-gallon $270–$1,000

40-gallon $300–$1,600

50-gallon $400–$2,500

75-gallon $900–$3,200

80-gallon $1,000–$3,200

Gas vs Electric: Which Costs More?

You can get a tank or tankless gas, and an electric hot water system. They both come with advantages and disadvantages. Which is more expensive? This typically depends on your local utility costs, but gas water systems are usually more affordable than electric ones. However, gas water systems cost more upfront. You’ll notice that they're relatively more expensive when you buy them. However, they turn out to be cheaper because they contribute to energy savings. This is because gas systems don’t use electricity to function.

Energy-Efficient Storage

If you want to do your part to help the environment while still meeting your obligations, Energy-efficient storage tank water systems can help with this. Some of these are:

• Solar Water Tank Systems

Solar water tank systems work by using the sun’s energy to heat water. Solar water tank systems cost around $2,000 - $3,000 just for the system itself. However, it is worth it because of the amount of electricity you can save.

• Indirect Water Systems

Indirect water systems use energy from an existing furnace or boiler. Water from the boiler or furnace circulates into the coil, heating the water. By depending on the heat of an existing boiler or furnace, these devices can effectively save energy. An indirect water system costs around $1,500.

Average Costs

Since hot water installation isn’t just one expense, it’s considerable expenses clustered into one; you must set a budget around $820 to$3,500. This includes the rates of the unit and the labour you will need. Just like any other appliance, different units mean different prices. A typical tank hot water system can cost around $820. On the other hand, a tankless system can cost about $1,200. It can cost about $40 to $200 per hour for a licensed plumber to do the job.

Conclusion

Depending on your budget, there are many different options for you to choose from. You can pick a gas, electric, or solar hot water system. They all get the job done, and the only difference is their prices and the process of how they heat the water.