Hot water tank failed? Replace like-for-like, or upgrade to heat pump?
When the gas tank goes you've got 48 hours to decide. Here's the maths, including the heat pump rebate question.
Your gas storage tank just failed. You've got 48 hours before the cold showers become a real problem. Two options: swap like-for-like for another gas tank, or upgrade to a heat pump. Here's the actual maths for a Pakenham household.
Option A: Like-for-like gas tank swap
A 170 L gas storage tank (Rinnai or similar) installed same-day: about $2,200 inc GST. Fast, simple, no VEU eligibility questions. Running cost: about $680/year in gas for a 3-4 person household.
Life expectancy: 8-10 years. Then you're doing this again.
Option B: Reclaim R290 300 L heat pump upgrade
Fully installed after all VEU + Aus-Made + Solar Homes rebates (if you qualify): $2,610 inc GST. Running cost: about $180/year in electricity, or effectively $0 if you've got solar and schedule the heating for daytime.
Life expectancy: 12-15 years. Longer if you've got the stainless tank option.
5-year total cost of ownership
- Gas tank: $2,200 install + 5 × $680 running = $5,600
- Heat pump (Solar Homes eligible): $2,610 install + 5 × $180 running = $3,510
- Heat pump on solar: $2,610 install + $0 running = $2,610
- Heat pump saves you $2,090 - $2,990 over 5 years
When we'd still say go gas
You're renting and the landlord won't upgrade. You have no power point within 50 cm of the tank AND don't want to pay $450 for a sparky. You genuinely need hot water in the next 4 hours and can't wait for a heat pump lead time (though we usually stock the R290 and can install within 48 hours).
Everyone else: upgrade. The rebates are basically paying you to swap.
Give us a ring, we'll usually get you sorted the same day if it's Monday to Friday.
Fixed-price, no obligation, VEU rebate applied at the quote.
We usually reply within 12 hours. Free 20-minute site check for bigger jobs.
