When looking to reduce costs for a new hot water system, consider comparing different types, such as electric, gas, or solar, as they vary in initial investment and running costs. Look for rebates or incentives from the government, as some systems may qualify for financial assistance. Additionally, getting multiple quotes from licensed plumbers can help you find the most competitive pricing. Don’t forget to factor in the long-term energy savings of more efficient systems; you might save more over time. For detailed information on rebates, visit energy.gov.au or consult with a licensed professional.