Australian hot water services manufacturer Edson is offering a solar boosted CO₂ heat pump water heater. Using a quiet and climate-friendly Japanese CO₂ heat pump (Eco Cute), the hybrid system can cover up to 90% of annual hot water needs from the sun via:

• Solar collectors: 65% contribution of hot water
• Solar energy stored in the environment using a heat pump: 25% contribution of hot water

Natural refrigerant CO₂ will not be subject to carbon equivalent pricing, unlike HFCs that as of 1 July 2012 will be charged at an initial price of $23 AUD (about €17) per tonne of carbon dioxide equivalence Internalising the cost of carbon in their price and providing the right signal for a more widespread transition to climate-friendly refrigerants.

Financial incentives for renewable hot water systems

Owners of solar and heat pump water heater installations are entitled to receiving Small-scale Technology Certificates (previously called Renewable Energy Certificates or RECs). The number of certificates is calculated based on the electricity in megawatt hours (MWh) that the system is estimated to displace over a 10 year period.

The subsequent trade in these certificates provides a financial incentive for the installation of solar water heaters and heat pumps. For the case of solar hot water/heat pumps, the majority of owners choose to assign their certificates to an electricity retailer or an installer in exchange for a financial benefit such as a discount off their invoice.

Between 12 January and 10 February 2012, the Australian Office of the Renewable Energy Regulator (ORER) is holding a public consultation on the amendments to the Regulation 19B Legislative Instrument – Small-scale Technology Certificate (STC) methodology for solar water heaters and air source heat pump water heaters.

In addition to the tradable certificates, the Australian Government offers rebates for replacing electric hot water systems through its Renewable Energy Bonus Scheme.