Do you know what hot water system you have?
Hot water systems are responsible for ensuring a steady supply of hot water to your home and makes up almost a quarter of your home’s energy usage2. Knowing what hot water system you have can guide your decision making when deciding it’s time to replace it. There are many types of systems available, all with various pros and cons which relate to upfront and running costs, efficiency and greenhouse emissions intensity. We’ve outlined some of the most common hot water systems below:
- Storage Gas Hot Water System
- Instantaneous Gas Hot Water System
- Storage Electric Hot Water System
- Instantaneous Electric Hot Water System
- Solar Hot Water System
- Heat Pump Hot Water System
For a more detailed look at the nuances of each system, you can go to the Australian Government YourHome website.
Benefits of heat pump hot water systems
Heat pumps are the most energy efficient option when it comes to hot water systems right now. They work by drawing warmth out of the air and transferring it through a pump system to your water tank, where the stored water is heated.
The running cost of a heat pump system is comparatively lower across the life of the system – and you may even be eligible for Government rebates. For more information you can go to energy.gov.au/rebates. Connecting it to your home’s solar system can drive down your electricity bills and greenhouse emissions even further.
Choosing a new heating/cooling unit
The ideal heating and cooling system should take your climate zone into consideration but lifestyle and the size of your home also play a big part in finding the right system for you. One that’s too powerful may be using unnecessary amounts of energy while a less powerful system would need to work harder to get up to temperature. Both options could impact your energy bills significantly.
Some of the most common types of heating and cooling include:
- Reverse cycle-air conditioners
- In-slab floor heating
- Wood burners
- Gas heaters
- Electric resistance/fan heaters
Benefits of heating/cooling your home via reverse cycle air conditioning
With a heat pump system, more commonly referred to as reverse-cycle air-conditioners, you get the best of both worlds when it comes to heating and cooling your home. The cooling function removes heat from the space and turns it into cold air while the heating function absorbs cold air from the outside and turns it into warm air. This makes reverse-cycle air conditioners not only an incredibly energy efficient addition to your home but may also help prevent your energy bills from spiking. It should also be mentioned that passive design measures such as glazed windows and insulation can be effective in maintaining an optimal home temperature and reducing reliance on additional heating and cooling.
Upgrading your hot water, heating or cooling system is not an opportunity that comes around all too often. So when it does, consider replacing it with a system that utilises a heat pump, which can help you save money on future energy bills, while reducing greenhouse gas emissions. Furthermore, moving to energy efficient electric appliances means you can consider closing off your gas connection, so you no longer need to pay the gas supply charge.
CommBank provides discounted financing solutions for eligible energy-efficient products such as the Green Loan and the Personal Loan for eligible energy-efficient products. To find out more, visit: commbank.com.au/sustainable-living
1https://www.yourhome.gov.au/energy/heating-and-cooling
2https://www.yourhome.gov.au/energy/hot-water-systems
