How much does a heat pump hot water system cost in Australia?
A heat pump hot water system costs approximately $4,527 nationally on average in April 2026, once federal STCs and installation are included. In New South Wales, a typical system averages about $4,758 installed with federal STCs applied, falling to around $3,938 after the NSW state rebate when replacing an electric tank. Before rebates, heat pump systems cost $3,000–$5,500 installed.


