Gas Vs Electric Hot Water Heater Cost

We tell you what you need to know before buying an electric or gas storage tank water heater so you can pick the best option for your home.

Gas vs electric hot water heater cost. An electric hot water heater ranges in costs from about 300 to 700 while a gas heater ranges from 400 to 800. 0 09 per kwh for electricity is the federal average price in the u s. Running costs for a heat pump water heater cost approximately 150 650 a year depending on the electricity rate and the average outdoor temperature. A gas water heater uses the heat from burning a fuel usually natural gas to heat water while an electric water heater uses electric resistance coils.

Electric water heaters typically have a lower upfront cost than gas water heaters. Pros for heat pump water heaters. Cost of a gas hot water heater gas water heater costs also depend on whether it has a storage tank the unit s size and the difficulty of the installation. Heating water is the second largest expense in our homes according to the department of energy accounting for 14 to 18 of our utility bills.

A tankless electric water heater has an average cost between 800 and 1 500 plus an additional 800 to 1 200 for installation. Gas water heaters are less energy efficient than electric heaters but the cost of electricity itself makes the running costs of an electric heater higher. Very low running costs. Gas water heaters typically cost about 30 a month to run while electric water heaters run closer to 42 a month depending on utility rates.

The higher the ef number. Installation costs for an electric heater are 700 to 1 000 while the cost to install a gas heater ranges from 1 000 to 2 000 depending on whether you have an existing gas line and vent. A gas or electric water heater s energy factor ef is a measurement that compares the amount of hot water the heater produces per day to the amount of fuel it consumes. The answer depends on your home.

Installing a new heat pump water heater can cost about 4 000 8 000. In many cases using an electric water heater will result in higher utility costs as compared to using a gas water heater. However you will have to take the cost of the electricity used to operate the heater into consideration. Lifetime energy cost is the sum of the discounted value of the annual energy costs based on assumed water heater life of 13 years.

0 93 per therm for gas is the federal average. While gas models are less expensive to operate they do require an existing natural gas line. After analyzing gas vs. Water heater cost types and storage.

The price tag of an electric water heater is usually lower but it can be more costly to operate. Can be put on a night rate electricity supply to get a cheaper rate.