Heat pump hot water savings calculator

Compare the running cost of your current hot water system with a heat pump, with or without solar, and see what the quote comes to after the Victorian rebates. Adjust the assumptions to match your household.

Your household

PeopleHot water per person (L/day)

Current system

Prices

Gas (c/MJ)Electricity (c/kWh)

Off-peak rate (c/kWh)Feed-in tariff (c/kWh)

Share of heating done on your own solar (%)0 without solar. With solar and a daytime timer, 50 to 70% is realistic.

The heat pump quote Installed price before rebates ($)

VEU discount ($)From your installer's quoteSTCs ($)Usually built into the price

Eligible for the Solar Victoria rebate Australian-made system (higher rebate cap)

Solar Victoria pays 50% of the price left after other discounts, capped at $1,000 (or $1,400 for eligible Australian-made products), for eligible owner-occupiers under the household income limit. Check current rules before relying on it.

Running cost per year

estimated yearly saving with a heat pump

Assumes water heated by 45°C, tank standing losses of about 1 kWh a day, gas storage at 65% overall efficiency, gas instantaneous at 80%, electric element at 95%, and a heat pump averaging COP 3.3 across the year.