Costs of Solar Hot Water Systems in 2023

Solar hot water systems are becoming increasingly popular in Australia due to their cost-effectiveness and environmental sustainability. However, the high upfront cost of solar hot water systems can be a significant barrier to adoption. In this article, we will explore the costs of solar hot water systems in 2023, and how they compare to electric and gas hot water systems. We will also provide an in-depth analysis of the benefits and drawbacks of solar hot water systems.

Costs of Solar Hot Water Systems

Solar hot water systems can be purchased for an upfront cost ranging from $2500 to $6500, with installation costs varying depending on system type and complexity. Although the initial investment can be significant, the potential for long-term savings on energy bills makes it worthwhile.

Solar hot water systems come in different types, including roof-mounted solar, electric-boosted split, gas-boosted split, and heat pump systems. The cost of each system depends on several factors, including the size of the system, the quality of materials, and installation costs.

1. Roof-mounted solar hot water systems are the most common and cost-effective option if you have free roof space and live in an area infrequently affected by shade or overcast weather. The cost of a roof-mounted solar hot water system ranges from $3800 to $5400+.
2. Electric or gas-boosted split solar hot water systems are preferable when roofs cannot support the total weight of a hot water tank or if there is limited space on the roof. This system's solar panels are mounted on the roof while the storage tank is located at ground level. The cost of an electric or gas-boosted split solar hot water system ranges from $3900 to $6000 or more, depending on the quality and size of the system.
3. Heat pump water heater systems are a good option if your home has roof shading issues or limited space. Heat pumps can operate even when the sun is not present by drawing heat from the surrounding air, even operating at night. This system saves money like solar but requires a warm climate to function. Prices usually start at $3800 for a 160L system and up to $4500 for a 315L system. However, heat pump systems can be noisy, and their efficiency decreases in cold weather.

The type of solar hot water system you choose can significantly influence its cost. Roof-mounted solar hot water systems are the most common and cost-effective option, while electric or gas-boosted split solar hot water systems and heat pump water heater systems are also viable options, but their costs depend on various factors such as quality, size, and installation costs.  

Solar hot water systems can be a significant investment, with upfront costs ranging from $2500 to $6500. On the other hand, electric hot water systems typically cost between $500 to $1900, while gas hot water systems cost between $750 to $1800 upfront. However, it's important to note that electric and gas systems may have higher long-term operating costs compared to solar hot water systems. For instance, gas and electric tankless water heaters can cost around $200 to $450 per year in operational costs, while delivering less hot water than gas-powered storage tank water heaters. If you need a new hot water system installed, AWP Plumbing is the go-to expert in installing solar, gas, and electric hot water systems. Request a quote today by calling 0407 267 592, and our experienced team will ensure that your new system runs efficiently without any issues in the future.

Benefits of Solar Hot Water Systems

One of the primary benefits of solar hot water systems is their environmental sustainability. Solar hot water systems use renewable energy from the sun to heat water, which reduces the reliance on fossil fuels and lowers carbon emissions. This makes them an excellent choice for environmentally conscious consumers who want to reduce their carbon footprint.

Another benefit of solar hot water systems is their cost-effectiveness in the long term. While the upfront cost of a solar hot water system can be higher than electric or gas systems, the ongoing energy costs are significantly lower. This can lead to substantial savings on energy bills over time, which can help offset the initial investment.

Drawbacks of Solar Hot Water Systems

Despite the many benefits of solar hot water systems, there are also some drawbacks to consider. One of the most significant drawbacks is the high upfront cost of installation. This can be a significant barrier to adoption, particularly for consumers who are on a tight budget.

Another potential drawback of solar hot water systems is their performance in cold or cloudy weather. While solar hot water systems are designed to work in all weather conditions, they may not be as efficient in cold or cloudy weather. This can lead to a decrease in performance and an increase in energy bills.

Conclusion

Solar hot water systems are an excellent choice for environmentally conscious consumers who want to reduce their carbon footprint and save money on energy bills in the long term. While the initial investment can be high, the ongoing energy costs are significantly lower than electric or gas systems..

AWP Plumbing is the number one choice for all your solar, electric, and gas hot water system needs in Umina Beach and surrounding suburbs. Our experienced team of experts has over 30 years of combined experience in installation, repair, and maintenance services. We guarantee to provide you with the most extended life possible from your system without any troubles. We offer same-day service and provide the best solutions to your solar hot water system requirements. We also provide leading hot water system repairs. Ready to switch to solar hot water and save on your energy bills? Call us today at 0407 267 592 to schedule an appointment with our expert team and get advice on installation, suitability, and typical costs. We're here to help you make the most of your solar investment!