Electric Storage
Cheap to install ($800–$1,500) but expensive to run. Running cost: $600–$1,000/year.
Gas Continuous Flow
Running cost: $300–$600/year. Very popular, 15–20 year lifespan.
Heat Pump
Uses 60–75% less electricity than conventional electric. Running cost: $200–$350/year. Eligible for rebates in most states.
Pro tip: Under government rebates, heat pump hot water systems can reduce installed cost to under $2,000.
Which System Should You Choose?
- 1 No gas, budget-conscious: heat pump (best value long-term)
- 2 Have gas: continuous flow gas
- 3 Environmental priority: heat pump or solar hot water
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