You asked me to calculate payback. Here’s a practical method that stays consistent across brands:
Assumptions (clearly stated)
Typical electric storage hot water use: 2,500–3,500 kWh/year
Neopower heat pump electricity use (approx):
Electric use ÷ COP ≈ 2,500/4.33 to 3,500/4.33 = 577–808 kWh/year
Electricity price range: $0.28–$0.35/kWh
Estimated annual savings
Savings kWh ≈ (2,500–3,500) − (577–808) = 1,692–2,923 kWh/year
Savings $ ≈ $475–$1,023/year
Payback estimate (using your after-rebate pricing)
- VIC ($1,000–$1,500): ~1.0–3.0 years (most often ~1.5–2.5)
- Other states ($2,000–$2,500): ~2.0–5.0 years (most often ~2.5–4.0)
Score: 8.0 / 10
(Strong in VIC, moderate elsewhere; rebates materially change payback.)