No more fossil “gasplaining” – going electric is past the tipping point and guaranteed to slash cost of living (Sophie Vorrath, Mar 31, 2025, Renew Economy)
The electrification of Australian homes and vehicles is no longer trade-off between climate action and cost, but a guaranteed way to drive down the cost of living – and a economic policy imperative.
A new report from Rewiring Australia says Australia has passed the “electrification tipping point,” where replacing gas appliances and petrol cars with electric alternatives works out cheaper over a 15-year period, even accounting for any higher up-front costs.
This means, for example, that while an electric heat pump hot water system might cost around $4,000 compared to $1,900 for a gas hot water system, a gas system would spend up to $8,000 on fuel over 15 years, compared to $3,900 on grid electricity for the heat pump, or just $1,000 with rooftop solar. […]
Electric driving, too, is now the lowest cost way to drive including upfront costs, according to Rewiring Australia, offering savings of $1,500 per year in driving costs in 2025, or $2,500 with solar.
Over a 15-year period, electric vehicle drivers could expect a saving of $17,000 with upfront costs included, compared to a similar petrol car, or $35,000 when charging with solar.