Heat Pump Hot Water Savings
Calculate how much you'll save by switching to a heat pump hot water system in Queensland.
Your Hot Water
$/kWh
$/MJ
$
Typical range $3,500-$4,500
Annual Savings
$495
Payback Period
5.7 yrs
Net Cost After Rebates
$2,800
CO2 Saved
-5 kg/yr
Annual Running Cost Comparison
Rebates Breakdown
| Installed cost | $3,800 |
| Federal STCs | -$1,000 |
| Net cost | $2,800 |
What this means
Switching to a heat pump will save you about $495 per year. After rebates, the net cost is $2,800, paying for itself in 5.7 years. You'll also be one step closer to disconnecting gas entirely — eliminating that daily supply charge.
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Frequently Asked Questions
How much does a heat pump hot water system cost?
A quality heat pump hot water system costs $3,000-$5,000 fully installed. After federal STCs (worth ~$1,000) and any state rebates, the net cost is typically $2,000-$3,500. The running cost savings mean most systems pay for themselves in 3-5 years.
Are heat pumps noisy?
Modern heat pump hot water systems are much quieter than older models. Most operate at around 45-50 dB — similar to a quiet conversation or a modern fridge. They typically run for 2-4 hours per day. If placement near bedrooms is a concern, discuss options with your installer.
Heat pump vs solar hot water?
Both are excellent choices. Heat pumps are generally cheaper to install, work in any weather (they extract heat from ambient air), and pair well with rooftop solar PV. Solar hot water (evacuated tubes/flat plate) needs roof space and a gas or electric boost for cloudy days. In most cases, a heat pump + rooftop solar PV is the more cost-effective and flexible combination.
What rebates are available for heat pumps?
Federal STCs provide ~$1,000 off the cost of a heat pump. Victoria offers an additional $1,000 via Solar Victoria. Some states have additional schemes — use our Rebate Finder to check what's available in your area. The ACT offers interest-free loans of up to $15,000 for hot water upgrades.