Heat Pump hot water systems have really come of age in the past few years after a very rocky start here in Australia that has left a lot of people vowing to never have another. This is a shame as this type of water heating is incredibly cheap, saving people a whopping 75% compared to a electric or LPG gas system and in some cases cheaper than a solar when $ outlayed V’s $ running costs if totaled up over the life of the hot water heaters.