Use Your Power Bill to Pay for a Heat Pump Hot Water Cylinder

Let’s say you’re considering replacing your old water cylinder with a $3,000 low-pressure tank. Here’s another option that will help you save smarter: upgrade to a heat pump hot water system and let your power savings pay it off.

A full install might cost around $7,000, but if you were planning to spend $3,000 — that’s your deposit sorted. That brings the loan amount down to $4,000, and thanks to Green Home Loans, you can finance it at just 1% interest for the first 3 years.

A Green Home Loan is a special low-interest loan offered by many major New Zealand banks (like ANZ, Westpac, BNZ, and others) to encourage homeowners to make their properties more energy-efficient. These loans often offer interest rates as low as 1% for up to three years, helping cover the cost of upgrades like heat pump hot water systems.

Now here’s where it gets clever: instead of just footing the whole bill upfront, you can borrow at a super-low rate, and use the savings on your power bill to help pay it off — sometimes completely.

Monthly Power Bill Savings Add Up

Heat pump hot water systems use up to 70% less electricity than standard electric cylinders — saving most Kiwi families $60–$90 monthly on their power bill.

Let’s run the numbers on a $4,000 loan with a $3,000 deposit:

‍

⚠️ After 3 years, your Green Loan will revert to a standard floating rate (~7%). But the energy savings continue — so you stay ahead.

‍

Upgrade Once. Save for Years.

Instead of paying $3,000 for a low-pressure upgrade with no savings…
Put that same $3,000 toward a heat pump system and cut your power bill for the next 10–15 years. The lifetime savings could reach $10,000 or more.

You’ll also enjoy:

• ✅ Lower emissions
• ✅ Quieter operation
• ✅ Higher resale value
• ✅ Future-proof energy efficiency
  
  

Ready to make the switch?
📞 0800 468 928 | 🌐 hotwatershop.co.nz

‍