Is It The Right Time to Replace your Hot Water?

Perhaps you’re just waiting for the old tank to burn out and the entire hot water system to completely fail. After all you have to spend thousands of dollars for a new unit plus the installation (you might also have to think about retrofitting).

However you might be spending more than is necessary each month because of the old hot water’s inefficiency. Keep in mind that at least 20% of your household energy use is due to the hot water. If it’s already inefficient, you’re actually paying more for the hot water’s daily usage. In addition, the old system might fail anytime (and often at the worst possible moment).

Is it time to replace your hot water?

This might be the perfect time for you to plan your purchase instead of waiting for the old system to fail. But first, should you just replace the old system with the same heating method (electricity, gas, gas-boosted solar, solar, heat pump)? Should you choose a storage type or instantaneous one (on-demand) this time?

When it comes to upfront pricing of the unit and the installation, electricity- and gas-powered hot water systems are good options. They are also relatively easy to install. In contrast, solar-powered hot water systems are comparatively expensive and you also have to think about your location (whether your location receives good amounts of sunlight).

When it comes to running costs though, solar-powered ones use a free source of energy (the sun). In contrast, electricity heated storage tank systems are expensive to run especially if they’re being run on a full day. Gas-powered ones are somewhat in the middle (natural gas is still relatively cheap but fuel prices are continually rising).

What about heat pumps? These units are electricity powered but the principle is different. They “pump” heat from the air and into the water tank. In other words, the heat pump extracts the available heat from the air and uses it to heat the water tank. It uses electricity more efficiently but this type of hot water is ideally installed in warm and temperate regions (rich sources of outdoor heat).

Should you choose a storage tank or instantaneous? The latter (instantaneous or continuous flow) is getting popular because of its on-demand approach and minimal heat loss. As a result, they’re often cheaper to run compared to the storage types. Also, the storage types often have expensive stainless steel tanks (which are less corrosive but still require occasional maintenance).

With all this information, what should you choose then? We can assist you here at NSW Hot Water when it comes to choosing the right unit for your household or business. We stock a large range of electric, gas, solar, heat pump and instantaneous hot water systems and our team of hot water specialists (licenced plumbers, gas fitters and electricians) can provide you with technical advice and solutions. Contact us today and our team will be glad to assist you in making the right choice.