Hot water services are a necessity. Many homes today come equipped with some form of system for heating water. Even commercial establishments allocate significant money for investing and maintaining these systems. Since the demands for hot water vary, individual heating systems may also differ by a lot. Choosing between heater types or individual models can be quite daunting.
Aside from all the confusion, most people are unaware of the costs of keeping a heater system. Having one installed in your home isn’t just a buy-and-forget deal. You also need to be aware of the upkeep costs that come with a hot water system. That is especially notable for electric hot water services, which are among the most common.
Calculating the prices for hot water service: why is it important?
It’s wise to calculate your projected expenses for your hot water service. There are many things to consider in making your calculations accurate. Some of these include the type of hot water system, factors related to use, and logistics, among others.
Types of hot water systems you can use
There are several different types of hot water systems available on the market. Electric systems are among the most common today. However, there are others. Some of the notable hot water system types include the following:
1. Electric systems
As the name implies, electric systems rely on electricity to heat your water. These may cost $400 to 1,900 depending on size. Tankless electric systems are a bit more expensive but maybe worth it in the long run.
2. Gas systems
Gas heating systems connect to your home’s gas line. These systems use combustion to produce energy to heat your water. Gas heating systems can range from $700 to $1,700 depending on the tank size. Tankless gas systems also cost almost the same but tend to be much cheaper to maintain.
3. Solar-powered systems
Solar-powered systems rely on solar cells that collect sunlight and store it as energy. Solar-powered hot water systems are among the most expensive ones. Most models cost somewhere between the $3,500 and $4,000 price range. There are also split-type solar-powered systems that incorporate gas or electricity.
4. Heat pumps
Heat pumps pull heat from the air and use it to heat your water. This method makes these heaters among the cheapest to operate and maintain. The initial price can be quite expensive, however. These can cost between $3,300 and $4,000.
The factors that can affect hot water service prices
Aside from the type of system you have, many other factors can affect prices. Among the expenses to consider include logistics, manpower, disposal, upkeep, and more. Some of the most notable factors that can affect these are the following:
Family size and needs
The number of people in your household will significantly affect the cost of hot water services. The more people there are, the higher the costs will be. It will also depend on your household’s needs. Of course, more frequent uses will lead to higher costs.
Replacement or brand-new?
Replacing your old water heating system means that you have to dispose of your old heating unit. Proper disposal, which is required by law, will also cost you some money. It isn’t something you should worry about if you do not need to throw out an old unit.
Are you switching between types?
Some hot water system types will require you to prepare your home. If you’re switching from a different system to electric, then there are things you need to address. Addressing these things in your home will also cost you. If you’re not switching between system types, then costs will likely be minimal.
All home installations that require manpower will also cost you money. You need to consider the fees for the delivery of your hot water unit. Installation fees may also vary depending on the heating unit that you choose. Some models are a bit harder to install compared to others.
Area of installation and accessibility
Speaking of the difficulty of installation, where you want the heating system in your home plays a role. The more accessible it is, the easier the installation will be. More accessible places will likely cost you less.
Each hot water system unit has a different energy requirement. It isn’t something that solar-powered units need to worry about. Since you’re considering an electric hot water service, you should calculate the costs beforehand. Check the energy consumption of the specific model that you are eyeing up before you actually buy.
Hot water system size
We mentioned earlier that sizeable hot water tanks cost more in terms of purchase. Larger systems also tend to consume more energy compared to smaller ones. Make sure that you get just the right tank size for your home to prevent overconsumption of electricity.
There are specific times of day where electricity is cheaper to consume. It is particularly important to note if you are getting an electric hot water system. Your heating unit does not need to be on 24/7. You can just turn it on in the time of day when electricity prices are low.
Finally, the season also plays a role. Your household is more likely to use more hot water during the cold months. On the other end, hot water use will likely be minimal during the summer. Again, usage counts and the season affects this.
Do you need a hot water system installed?
Make sure that you consider the potential costs of having a hot water system. Are you looking for a company that can help? If you’re in Newcastle, Lake Macquarie, and Central Coast regions, Hogan Hot Water and Air Conditioning is your trusted partner. We can help you with hot water system installation, maintenance, repairs, and many more. Learn more about our services here or call us at 0488 029 618 for enquiries.