While the previous system installed was an electric element water heater, a comparative cost and performance analysis includes a wide variety of hot water systems.
Annual running costs were reduced by 80%:
- Before Heat Pump installation: $1,800 per year electricity bill
- After Heat Pump installation: $350 per year electricity bill
- A reduction of $1,450 per year
Payback for the Reclaim Energy CO2 Heat Pump would range from 2 to 3 years, depending on the current electric system cost and electricity prices.