When investing in a rainwater storage tank it is important to assess the benefits of installing a rainwater tank on your property. Typically the first question we are asked when a customer is thinking of installing a rainwater tank is, “How much does a rainwater tank cost?”
Water is our most precious resource. Without water, nothing lives so anything we can do to more efficiently uses the water we have makes complete sense. A very popular way to improve rainwater efficiency is the process of rainwater harvesting and storage. Integral to this process is the use of rainwater storage tanks.
There are three main aspects to consider when evaluating the cost of a rainwater tank:
- Your initial investment
- The installation cost
- The opportunity cost
Your Initial Investment
Obviously, there are many different shapes, sizes, and materials of rainwater tanks and the cost vary accordingly. Small household rainwater tanks which are used for domestic use start in the low hundreds whereas larger industrial style rainwater tanks are at the upper end of your investment. There are a few predictable variables that directly affect the initial cost of a rainwater tank:
Tank Size, Shape, and Colour
Rainwater tanks come in all sorts of shapes, sizes, and colours. Clearly, the greater the size the more the cost increases. The capacity of the rainwater tank is one of the most significant cost variables.
Polyethylene Tanks 
Stainless-steel Tanks
What the tank is made from
The other main cost variable is the material the rainwater tank is made from. The most popular types of rainwater tanks are steel water tanks and poly water tanks and concrete water tanks. Steel rainwater tanks are known for their durability and strength and are very easy to repair. Poly tanks are popular for their visual appeal, versatility, and attractive price point. Concrete tanks are both long-lasting and can hold large amounts of water.
Government Rebate
Be sure to check if a Government rebate is available. This can help offset the cost of your initial investment.
Rainwater Tank Installation Cost
When calculating rainwater tank costs there are quite a few factors to consider. These include site preparation costs, delivery costs, power connection, and any related equipment. In particular, you will need to install a water pump for your rainwater tank. You may like to consider a solar-powered water pump depending on where your power source is located. There are many different types of rainwater tank pumps available. Their cost will vary depending on the capacity and type of water pump you choose.
Opportunity Cost
There are many benefits of installing rainwater tanks. Often it is the thought of lost opportunity or what you would lose by not installing a rainwater tank that tips the scales in the decision-making process. Rainwater tanks have benefits in residential, rural, and industrial settings and can greatly improve overall water efficiency and production outcomes. Ultimately your decision will come down to a cost/benefit analysis based on your personal circumstances. It is important to have detailed information when making this decision, so please talk to your local Think Water store about your objectives.
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