Gridly
Heat Pump Hot Water Payback Calculator
Calculate the payback period and 10-year savings from upgrading to a heat pump hot water system in Australia. Compare against electric resistive and gas hot water.
Typical: $2,000-$4,500 installed after rebates
Approx $372/kWh usable capacity. Most systems: $300-$800 rebate.
Your Results
Annual saving ($)
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vs current system
Payback period
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after rebates
10-year net saving ($)
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after system cost
Current annual cost
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HP annual cost
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Net cost after rebate
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Additional rebates available
Additional state/territory rebates may be available. VIC Homes Plus offers up to $1,000. Check the rebate checker for your state.
Calculator notes
- Heat pump COP (coefficient of performance) assumed at 3.5 - uses 1 kWh electricity to produce 3.5 kWh of heat.
- Gas costs are estimated from typical Australian mains gas rates. LPG is significantly more expensive per MJ.
- Electricity and gas rates are state averages - check your bill for exact rates.
- Does not account for solar self-consumption, which can further reduce heat pump running costs.