How Much Does It Cost to Replace My Electric Hot Water with Gas?
You might need a total of at least $2500 to replace your electric hot water with a gas type. That estimated total cost includes the price of the hot water itself and the labour costs for installation. However, that doesn’t include the potential need for minor demolition, renovation, repair, additional plumbing work or retrofitting to complete the hot water replacement.
Replacing electric with gas
This is practical because gas types have lower running costs than those of electric types. In addition, electric hot water systems require lots of energy to run (which is true for any heating equipment). With this in mind, it makes sense to replace the electric hot water with something that has a lower operating cost. Although electric storage systems (which are used by almost half of Australian households) are the cheapest, they’re also the most expensive to run. The monthly energy bills can rapidly surpass your initial cost savings in the purchase price.
On the other hand, gas types have a higher purchase price than the electric ones. In general, gas types are in the mid-range pricing compared to other hot water systems (solar and heat pumps have the highest purchase price, gas in the middle and the electric ones are the cheapest). One advantage is that gas types have lower running costs than electric systems. It’s especially the case with tankless or instantaneous gas systems (storage systems are usually inefficient especially in areas with cold climates because of high heat loss).
Aside from gas and electric, you also have other options such as having a solar water heater or a heat pump. In the latter, it is becoming a popular choice because it only uses 30 per cent of the energy of an electric type. This high efficiency comes from how the heat pump water heaters extract and use the heat from air. On the other hand, solar water heater is also an option but be prepared for the expensive unit and installation.
If you want to make a smart decision, you can contact us here and our hot water specialists will give you practical advice and recommendations. This one smart decision can help you save thousands of dollars for years to come.