Heat Pump Hot Water Costs
What a heat pump hot water system costs in Australia: prices by tank size and by brand, and what you pay once the rebates come off.
2026 prices, installed. Actual costs vary by location.
Heat pump costs by size
150L
- Suits
- 1 to 2 people
- Full price
- $2,800 to $3,800
- STC rebate
- About $1,000
- You pay
- $1,800 to $2,800
- Popular brands
- Reclaim, Sanden Eco
215 to 250L
- Suits
- 2 to 3 people
- Full price
- $3,200 to $4,500
- STC rebate
- About $1,000
- You pay
- $2,200 to $3,500
- Popular brands
- Reclaim, iStore, Stiebel
270 to 315LMost popular
- Suits
- 3 to 4 people
- Full price
- $3,800 to $5,200
- STC rebate
- About $1,000
- You pay
- $2,800 to $4,200
- Popular brands
- Reclaim, iStore, Sanden
400L+
- Suits
- 5+ people
- Full price
- $4,500 to $6,500
- STC rebate
- About $1,000
- You pay
- $3,500 to $5,500
- Popular brands
- Sanden Eco Plus, Reclaim
Popular brand prices
Reclaim Energy
- Size
- 270L
- Full price
- $3,800 to $4,500
- After rebate
- $2,800 to $3,500
- Warranty (parts / tank)
- 6yr / 15yr
- Origin
- Australia
Sanden Eco
- Size
- 315L
- Full price
- $4,200 to $5,000
- After rebate
- $3,200 to $4,000
- Warranty (parts / tank)
- 6yr / 15yr
- Origin
- Japan
Hydrotherm Dynamic X8
- Size
- 280L
- Full price
- $3,800 to $4,500
- After rebate
- $2,800 to $3,500
- Warranty (parts / tank)
- 6yr / 6yr
- Origin
- Australia
EvoHeat DHWS
- Size
- 270L
- Full price
- $3,200 to $3,900
- After rebate
- $2,200 to $2,900
- Warranty (parts / tank)
- 5yr / 5yr
- Origin
- Australia
iStore
- Size
- 270L
- Full price
- $3,500 to $4,200
- After rebate
- $2,500 to $3,200
- Warranty (parts / tank)
- 5yr / 5yr
- Origin
- Australia
Stiebel Eltron
- Size
- 302L
- Full price
- $4,000 to $4,800
- After rebate
- $3,000 to $3,800
- Warranty (parts / tank)
- 5yr / 10yr
- Origin
- Germany
Rheem Ambiheat
- Size
- 270L
- Full price
- $3,200 to $3,900
- After rebate
- $2,200 to $2,900
- Warranty (parts / tank)
- 5yr / 5yr
- Origin
- Australia
Prices include standard installation. Warranty is shown as parts / tank. Actual costs vary by location.
Running cost comparison
Electric storage (off-peak)
High emissions, 90 to 95% efficient
$450 to $650
Electric storage (anytime)
High emissions, 90 to 95% efficient
$800 to $1,200
Gas storage
Medium emissions, 60 to 70% efficient
$400 to $600
Gas instantaneous
Medium emissions, 80 to 85% efficient
$350 to $550
Heat pump
Low emissions, 300 to 400% efficient
$150 to $300
Heat pump + solar
Very low emissions, 300 to 400% efficient
$50 to $150
10-year savings
$5,000 to $8,000
Switching from electric storage to a heat pump saves about $5,000 to $8,000 over 10 years in running costs alone, and often pays for itself within 3 to 5 years.
State rebates
Victoria
- Rebate
- $1,000
- Program
- Victorian Energy Upgrades
- Notes
- Replaces gas or electric
New South Wales
- Rebate
- STCs only
- Program
- Federal STCs
- Notes
- About $1,000, through the installer
Queensland
- Rebate
- STCs only
- Program
- Federal STCs
- Notes
- About $1,000, through the installer
South Australia
- Rebate
- $1,000
- Program
- Retailer Energy Productivity Scheme
- Notes
- Through participating retailers
Western Australia
- Rebate
- STCs only
- Program
- Federal STCs
- Notes
- About $1,000, through the installer
All states receive the federal STC rebate (about $1,000). Some states have their own programs on top.
Related pages
Heat pump guide
Brands, types and refrigerants compared, to find the right system for your home.
Installation guide
What to expect when a heat pump goes in: requirements and timeframes.
All rebates
Solar, battery and heat pump rebates, state by state.
Get your heat pump quote
Prices vary by brand and installer. A free quote from a licensed local installer shows your exact cost after rebates.