Payback Period
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Attention plumbers - your customers can get $500 back when they install a heat pump water heater..
Heat Pump Water Heater
A heat pump Water Heater (HPWH) is a water heating system that transfers renewable "free heat" from the environment ....
The payback on installing a Heat Pump Water Heater ticks the box
Installing a Heat Pump Water Heater saves the average household approximately *$470 every year on electricity bills. If we assume that it costs on average $ 5,000 to buy and install a HPHW system, compared to $1,500 for an electric storage system, then this saving would payback the initial investment of the HPHW system in less than 8 years. But remember, you also keep on making savings every year!

Please note: the above information is a guide only and the payback period will vary in individual cases depending on each HPWH's performance, a household's hot water use and the electricity tariff.

*Based on an average household of 4 using 3,600 kWh a year for heating hot water using a standard electric 180l tank (Ref: AS/NZS 4234). Assuming an electricity tariff and standing charges of 20c kWh, Source: Department of Building and Housing (domestic hot water and commercial heating, ventilating and air conditioning systems, 29th June 2007.
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