A pair of renewable energy experts broke down why heat pump water heaters are better than traditional element water heaters.

Mark Cavanagh and Karl Jensen started by debating the costs of each as well as their impacts on the environment. Cavanagh, who owns MC Solar & Electrical (@mcelectrical) in Brisbane, Australia, said heat pump water heaters are expensive and don't last as long as tank options, though he ceded their eco-friendliness.

"Plumbers hate them, and part of the reason that plumbers hate them is cheap, rubbish heat pumps are installed and they fail," he said.

Jensen, business development manager at renewable energy solutions company iStore, countered that one of its heat pump water heaters had never failed in 12 years.

Cavanagh created a calculator to compare costs. The newer electric technology was more expensive upfront, but it more than made up the gap with its efficiency. The pair also determined location played a big role in savings.

In Southeast Queensland, inlet water temperatures are higher than in Victoria, and sunshine is more abundant, allowing homeowners — especially those who harvest free energy with solar panels — to compound the benefits. The difference amounted to 1,483 Australian dollars ($986 USD) over 10 years in Brisbane, whereas the savings in Melbourne were AU$5,100 ($3,390 USD).

In the United States, such an upgrade may be sweeter: A federal tax credit can save you 30% up to $2,000 on the installation of a heat pump water heater — and you can score a $1,750 rebate. This and other clean energy incentives are expiring by the end of the year, however, so it's important to act quickly.

LG has a variety of efficient water heaters that can help you save on your energy bills when you're ready to make the switch. The company can also help connect you with contractors in your area.

"I think we're living in a different age where heat pumps have developed, especially if you're dealing with a decent brand like iStore," Cavanagh said. "They're not going to fail on you in three or five years like they maybe used to."

Jensen concluded by touting the value of similar changes to not only your wallet but the future as well.

Which of these factors would most effectively motivate you to buy a heat pump? Lower energy bills 💰 Better temperature control 🌡️ Helping the planet 🌎 I'd never buy a heat pump 🚫 Click your choice to see results and speak your mind.

"Everybody's probably seen me on socials, and they know that I'm a big advocate for electric vehicles because they're just so cheap to run and there's so little maintenance," he said. "So, anything that we can do to accelerate the transition and save people money so that they can get to that end goal of having an electric car is of advantage.

"And if we've got something like a heat pump that can save the same amount of energy as what the electric car uses every day, we really are transforming Australia's energy future."

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