What is the Best Hot Water System?
Upfront cost, efficiency, long-term savings, warranty…
The list of factors you should consider when choosing the “best” hot water system is long – but the answer depends on your particular needs, interests and circumstances.
Of course, choosing the right hot water system for your home is crucial for ensuring comfort, energy efficiency, and cost-effectiveness. This article provides a comprehensive guide to help you make an informed decision regarding your best hot water options – and with our 15+ years of award-winning hot water expertise, we’ll put you in hot water you’ll actually appreciate!
Ready? Let’s go.
What are the Different Types of Hot Water Systems Available?
Hot water systems come in different types, each with its own advantages and considerations. Both gas and electric hot water systems – some of the most common systems in Victoria – come in both instantaneous (no storage tank) and storage variants.
Here’s some overarching information regarding the types of hot water systems currently available in Victoria:
- Electric storage hot water systems: These systems heat water using electric heating elements and store it in an insulated tank. They are relatively affordable to purchase and install but tend to have higher operating costs.
- Gas storage hot water systems: Gas storage systems use a gas burner to heat water, which is then stored in an insulated tank. They provide fast heating and are suitable for larger households with higher hot water demand.
- Instantaneous hot water systems: Also known as continuous flow or tankless systems, these heat water on demand, eliminating the need for a storage tank. Instantaneous systems are generally most suited to residential applications in which a minimal amount of hot water is required at any one time.
- Solar hot water systems: Solar systems use the sun’s energy to heat water through solar collectors on the roof. They are environmentally friendly and offer long-term energy savings, but their performance can vary based on sunlight availability.
- Heat pump hot water systems: Heat pump hot water systems are now widely regarded to be some of the most efficient, cost-effective and technologically advanced hot water systems available on the market. Heat pumps extract heat from the air or ground and use it to heat water. They are highly energy-efficient and can significantly reduce hot water costs, especially in areas with moderate to high temperatures.
Of course, deciding on the “best” hot water system is a decision that can be based on a number of factors, including:
- Upfront cost
- Type and affordability
- Installation costs
- Rebates available
Let’s first take a look at one of the most common factors affecting homeowners’ decisions regarding the hot water system most-suited to their needs: efficiency.
Which Hot Water System is the Most Efficient?
Efficiency is a key consideration when determining the best hot water system. Here’s a comparison of the efficiency levels for different types of hot water systems:
- Solar hot water systems: According to the Australian government’s YourHome website, solar hot water systems can be highly efficient, reducing energy use by up to 90% compared to electric storage systems. They are particularly effective in sunny regions.
- Heat pump hot water systems: Heat pumps are also known for their high efficiency. According to a study by the Alternative Technology Association (ATA), heat pump hot water systems can use 65% less energy than electric storage systems, resulting in substantial energy savings.
- Instantaneous gas hot water systems: Instantaneous gas systems have high efficiency because they only heat water when needed. However, they may lose some efficiency if multiple hot water outlets are used simultaneously.
- Gas and electric storage hot water systems: Gas storage systems are generally more efficient than electric storage systems, but both types have lower efficiency compared to solar and heat pump systems. The energy efficiency of electric storage systems can vary based on the type and size of the unit.
The factors to consider when choosing the best hot water system for your needs
To determine the best hot water system for your needs, we suggest first speaking with a trusted retailer such as G Store.
Yep, your first step really can be as easy as that. We can help you understand the exact factors that will contribute to you getting the most value from the hot water system you end up choosing for your home.
In the meantime, you might like to consider the following factors which will help inform the discussions you have:
- What is your demand for hot water? Assess your household’s hot water usage patterns, including the number of occupants, daily hot water needs, and peak usage times. Larger households or those with high hot water demand may require systems with larger storage capacity or higher flow rates.
- What are your available energy sources? Evaluate the energy sources available in your area. Natural gas availability may favour gas storage or instantaneous gas systems, while ample sunlight and excellent options for panel positioning may make solar systems a viable option.
- What is your budget? Consider your budget and the initial investment required for different types of hot water systems. What can you reasonably afford, taking into account the available government incentives and rebates? Remember that while solar and heat pump systems may have higher upfront costs, they offer long-term savings through reduced energy consumption.
- Are you aware of the possibility of long-term savings? Look at the potential long-term savings each system offers. Solar and heat pump systems, although they may have higher upfront costs, can provide significant energy savings over their lifespan, reducing your overall hot water expenses.
- What environmental impact are you comfortable with? Consider the environmental impact of the hot water system. Solar, heat pump, and gas systems produce fewer greenhouse gas emissions compared to electric storage systems, making them more environmentally friendly choices.
- What are your space and installation requirements? Assess the available space for installation. Solar and heat pump systems require adequate roof space or outdoor areas, while storage systems need space for the tank. Consider the installation complexity and any additional requirements or modifications needed.
- What lifespan and maintenance requirements are you comfortable with? Evaluate the maintenance requirements and expected lifespan of the system. Solar and heat pump systems typically require less maintenance, while storage systems may need periodic servicing. Consider the warranties offered by manufacturers as an indicator of the system’s expected lifespan.
So – what is the best hot water system for me?
Determining the best hot water system for your home requires considering factors such as efficiency, hot water demand, energy sources, upfront costs, long-term savings, environmental impact, space requirements, and maintenance. While solar and heat pump systems are often considered highly efficient and environmentally friendly, they may require a higher initial investment.
Evaluate your specific needs and consult with reputable suppliers or installers to explore the options available to you. Consider the available government rebates and incentives to help offset the costs. By making an informed decision and selecting the best hot water system for your circumstances, you can enjoy efficient, reliable, and cost-effective hot water supply while reducing your environmental footprint.
Remember that the “best” hot water system may vary depending on individual requirements, regional factors, and personal preferences. By considering these factors and taking advantage of available resources, you can find the hot water system that provides the optimal balance of efficiency, affordability, and environmental sustainability for your home.
Keen to understand more about the best hot water system for your needs?
With 15+ years of award-winning hot water expertise, your G Store hot water team is here to help.