How Much Does
A Heat Pump Cost To Install?
An average household already pays a huge amount for the electric bill, and energy-hungry water heating systems are accountable for a big chunk of that bill. So, it’s undoubtedly a smart decision to install a heat pump for hot water and lower energy bills.
Heat pumps are such devices that combine technology with efficiency and provide you with a smart water heating system that costs a fraction of the amount which it would have otherwise. An average household already pays a huge amount for the electric bill, and energy-hungry water heating systems are accountable for a big chunk of that bill. So, it’s undoubtedly a smart decision to install a heat pump for hot water and lower energy bills.
With that being said, it’s only natural for you to wonder how much does a heat pump cost to install? Any heat pump systems can cost you about $2500 to $5500 for the unit. But keep in mind that this is not a definite amount because there are a lot of other attributes that heavily influence this number.
Also, there are government rebates available in NSW and Victoria that can potentially bring this huge number almost down to ZERO if you choose to go with an efficient hot water heat pump replacing your old demanding electric system.
Factors That Affect the Heat Pump Cost
Apart from the cost of heat pump hot water system, you have to factor in the installation cost. This is, again, something that cannot be determined just like that. For a bigger system in a trickier part of the house, the installer might quote you a bit extra for obvious reasons. Similarly, for a smaller capacity heat pump with an easier installation process, as the labour cost goes down, so might the installation cost.
To go with an installer who is CEC approved is definitely recommended.
Whether you are replacing your current electric hot water system with a heat pump or getting an entirely new one will dictate the heat pump price point, given that you live in NSW or Victoria. If you are a Victorian resident, then replace your current electric hot water system with a hot water heat pump starting from $660 for 300 litres.
Also, if you live in New South Wales, you can get your electric hot water system replaced with a heat pump starting from $990 for 250 litres. Again, this is a state government-provided rebate.
This is a state government-provided subsidy in order to facilitate and encourage their people to be more energy efficient.
If an extra tempering valve is required, your installation might cost an additional $185 or around the range. It depends on your exact heat pump model.
Data sourced from Sustainability Victoria’s Hot Water Running Costs 2020 and compares running costs of a 5.5-star gas storage system, 7-star gas instantaneous system, electric storage off-peak system, high-efficiency solar gas boosted system, high-efficiency solar electric boosted system, high-efficiency hot water heat pump on off-peak tariff.
Aside from all the factors mentioned above, it is necessary to ensure proper maintenance for the unit for a longer lifespan. Proper maintenance can come in the form of cleaning your unit or checking for issues that have the potential to become a bigger threat in the future. Heat pumps are efficient pieces of technology that save money and reduce your electric bill by consuming less energy, 75% to be exact (SLA heat pump spec). So, it makes total sense for you to be aware and responsive with your heat pump.
Also, it goes without saying that investing in a good quality heat pump is the first step towards an efficient and financially sound journey.
To sum up, installation costs of a heat pump vary from house to house and region to region, depending on many other external factors. To know what it might cost you to install a heat pump on your property, claim a free consultation session with our experts today.
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