Changing your electric water heating system may save you money

If you are concerned about electricity prices, making changes to your hot water system may be one way of easing the pressure caused by your energy bill.

The New South Wales government asserts that while electric water heating systems are the biggest contributor to energy bills - accounting for more than one-third of the total - some options are easier on the environment as well as your wallet.

It might be prudent to carry out a bit of research to see how you are able to trim your bill.

For example, hot water systems powered by solar energy are great options if you are looking to save money over the long term.

These, according to the NSW government, allow users to generate between 65 and 80 per cent of their hot water free of charge.

And while the initial investment of between $1,500 and $2,000 more than the cost of fitting a conventional hot water heater may seem steep at the outset, over time, this has the potential to lead to significant savings.

Figures from the Clean Energy Council indicate that from a pollution perspective, solar heating may be a great way to go. Depending on your location in Australia, households with a solar hot water system could expect to reduce their carbon emissions associated with water heating by between 60 and 90 per cent.

But as only seven per cent of Australian households are kitted out with solar hot water systems, the scope for market growth is considerable.

Even if you are not yet ready to embrace solar technology or replace your existing hot water system with a new model or the latest technology, there are still ways to cut down on your energy consumption - and reduce your home's carbon footprint at the same time.

Simply switching off the lights when you leave a room, ensuring appliances like your microwave and TV are not left on standby but are actually powered off when they are not in use and only using air conditioning or heating when necessary can all make a significant impact on your power bill.

And while all these systems have the potential to help you save money by reducing the amount of electricity you use, further savings can be made by comparing electricity suppliers to see if there is a contract that will provide you with better value than the one you are currently on.

Posted by Charlie Moore