In Hobart, replacing a hot water system can commonly cost about $1,000 to $4,500 installed, depending on the system type, capacity and installation work required. Electric storage systems are often cheaper upfront, while heat-pump and solar systems usually cost more initially but may reduce running costs. Extra costs can apply if pipework, electrical connections, valves or the outdoor unit location need changing. Ask a licensed Hobart plumber for itemised quotes and check whether any current government incentives apply to your circumstances.