Nick Vinciullo has good timing. He replaced his gas-fired hot water system with electric heat pumps about three weeks ago. Since then, Victoria’s winter chill has set in – and gas prices are soaring. | ANALYSIS by Charlotte Grieve gas
The 36-year-old carpenter replaced his gas-fired hot water system with electric heat pumps about three weeks ago – the final step in the electrification of his four-bedroom home in Melbourne’s Heidelberg.Nick Vinciullo with partner Grace Simpson and daughter Mae.Working in construction, Vinciullo became interested in ways to make houses more energy efficient as a way to reduce power bills.
“Demand destruction” is an economic phenomenon used to describe permanent downward shifts in demand caused by elevated prices. In the short term, “demand destruction” is prompting homeowners to take matters into their own hands. However, with electricity prices on the rise too, is disconnecting gas actually cheaper?to find out – and it turns out the answer is a resounding “yes”.
Drilling down to individual appliances, Renew found gas heaters are emerging as the most expensive option. In this equation, insulation is a key factor to retain heat.
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