Our new heat pump hot water system to replace our 1968 electric hot water system. It works by extracting heat energy from the air around it, passing on this heat into the stored water.
System and Plumber's Installation costs - $4683
Fed Gov Rebate (no longer means tested) - $1600
State Rebate - $1200
Reusable Energy Credits (28 credits, current REC point is worth $40) - $1120
total rebates - $3920
So if I've calculated rebates back correctly actual costs for this hot water system including plumber's installation is $763 (plus cost for electrician to rewire system from off peak - lucky for us my dad's a sparky). Pretty cool considering how energy efficient this hot water system is. There is a low humming noise like an air conditioner. Something to keep in mind if installing near a bedroom because it does come on at night.
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