Saving Money on Hot Water Systems – What You Need to Know
By Fluid Plumbing|May 30, 2022
No matter how you look at it, new hot water systems are a big investment. However, making the right choice when you decide to replace your old system (or for a new build home) could save you money now, or in the long term.
There are several types of hot water systems out there, and all have cost pros and cons. So let’s take a look at what they are, and when you might see cost savings.
Electric Water Heaters
Electric water heaters are the most common type of water heater. This usually means that when you’re replacing an electric water heater, it’s simply a matter of removing the old unit and installing a new one. Less modifications to the rest of your system will save money on the labour for installation, and because there are so many types of electric water heaters out there, there’s something for every budget.
However, while you might save money on an electric water heater upfront, the cost of electricity to run it will add up. Some people use timers and insulation blankets to cut these costs, but if you want hot water, you’ll have to pay whatever the rate is.
Gas Water Heaters
Gas water heaters are also fairly common, and again, if you’re replacing one with another, there won’t be any modifications to be made.
Gas is usually cheaper than electricity, and you can choose to use an “on demand” system that lets you heat water as you need it. This saves money and ensures you always have hot water when you need it.
Solar Hot Water Systems
Solar hot water systems consist of panels on your roof or another elevated position, and a tank to store the heated water. Water flows through the tubes in the panel, and the sun heats it. Then it flows into the tank when it reaches the required temperature, and more cold water is pumped into the panel for heating.
Because most houses don’t use solar hot water systems, it can cost more to install one of these upfront, but since you won’t be using any electricity or gas for hot water, the long-term savings are significant.
Heat Pumps
Heat pump systems are often more expensive to install, because of the cost of the equipment, because most homes don’t have the equipment to use them, and because they have to be installed outside, so you might need a concrete pad and other modifications before you can have one installed.
However, when combined with PV solar panels for power, heat pumps don’t need any grid supplied power to run, and that means you can save a lot in the long term. They also heat water better than most solar water heating systems.
Ask a Pro
If you’re stuck trying to figure out which of the hot water systems is best for your home or family, ask a professional. Plumbers not only install hot water systems properly but they are also trained to provide all the information you need to make the right choice.
So before you spend any money on a new hot water system, find out which one offers the best savings for your unique needs and situation.
There are several types of hot water systems out there, and all have cost pros and cons. So let’s take a look at what they are, and when you might see cost savings.
Electric Water Heaters
Electric water heaters are the most common type of water heater. This usually means that when you’re replacing an electric water heater, it’s simply a matter of removing the old unit and installing a new one. Less modifications to the rest of your system will save money on the labour for installation, and because there are so many types of electric water heaters out there, there’s something for every budget.
However, while you might save money on an electric water heater upfront, the cost of electricity to run it will add up. Some people use timers and insulation blankets to cut these costs, but if you want hot water, you’ll have to pay whatever the rate is.
Gas Water Heaters
Gas water heaters are also fairly common, and again, if you’re replacing one with another, there won’t be any modifications to be made.
Gas is usually cheaper than electricity, and you can choose to use an “on demand” system that lets you heat water as you need it. This saves money and ensures you always have hot water when you need it.
Solar Hot Water Systems
Solar hot water systems consist of panels on your roof or another elevated position, and a tank to store the heated water. Water flows through the tubes in the panel, and the sun heats it. Then it flows into the tank when it reaches the required temperature, and more cold water is pumped into the panel for heating.
Because most houses don’t use solar hot water systems, it can cost more to install one of these upfront, but since you won’t be using any electricity or gas for hot water, the long-term savings are significant.
Heat Pumps
Heat pump systems are often more expensive to install, because of the cost of the equipment, because most homes don’t have the equipment to use them, and because they have to be installed outside, so you might need a concrete pad and other modifications before you can have one installed.
However, when combined with PV solar panels for power, heat pumps don’t need any grid supplied power to run, and that means you can save a lot in the long term. They also heat water better than most solar water heating systems.
Ask a Pro
If you’re stuck trying to figure out which of the hot water systems is best for your home or family, ask a professional. Plumbers not only install hot water systems properly but they are also trained to provide all the information you need to make the right choice.
So before you spend any money on a new hot water system, find out which one offers the best savings for your unique needs and situation.
