In this study, a semi-dynamic model of a concentric evacuated tube solar water heater is developed to investigate the effect of working fluid design on technical and economic performance of a typical solar water heater in a household located at Sydney, Australia. The model is validated against experimental data. The effects of using water, ammonia, acetone, methanol, and pentane as working fluids of the built-in heat pipe are discussed comparatively during a typical day of operation. Water is identified as the best working fluid amongst the others. The variation of thermal resistance and critical heat flux of the heat pipes due to change in weather condition is presented and discussed. Three hypothetical working fluids are then proposed for further analysis which led to a working fluid design superior to water in performance. It is shown that the performance of the solar water heater can be significantly enhanced up to 28% and 50% from economical and technical points of view, respectively. (C) 2013 Elsevier Ltd. All rights reserved.