What does a hot water heat pump cost to run?
In New Zealand, a typical hot water heat pump for a two-person household costs around $10/month at the current national average rate of 40.6c/kWh. Hot water heat pumps run at a COP of ~3, so use around a third of the energy of a standard cylinder.
Monthly cost
$10
national average
Annual cost
$125
12 months at current rate
| Region | Rate | Monthly |
|---|---|---|
| Queenstown | 40.3c/kWh | $10 |
| Dunedin | 39.6c/kWh | $10 |
| Christchurch | 36.6c/kWh | $9 |
Frequently asked
How much does a hot water heat pump cost to run in NZ?
At the national average electricity rate of 40.6c/kWh, a typical hot water heat pump costs about $10 per month, or $125 per year. Actual costs vary by region and how heavily you use it.
Which NZ region has the cheapest hot water heat pump running cost?
Of the five centres shown on this page, Christchurch is the cheapest at $9/month, and Queenstown is the most expensive at $10/month. The 30% spread reflects regional MBIE retail rates.
Any tips for reducing this cost?
3-4x more efficient than an electric cylinder. Usually runs overnight on the night rate.