Gas Vs Electric Hot Water Heater Cost

0 09 per kwh for electricity is the federal average price in the u s.

Gas vs electric hot water heater cost.

Future electricity price trends and a discount rate of 3 2 are based on federal guidelines. 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 gas water heater costs at least twice as much as an electric heater. 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. 0 93 per therm for gas is the federal average. In many cases using an electric water heater will result in higher utility costs as compared to using a gas water heater. 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.

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. Water heater cost types and storage. Running costs for a heat pump water heater cost approximately 150 650 a year depending on the electricity rate and the average outdoor temperature. However you will have to take the cost of the electricity used to operate the heater into consideration.

For a high quality unit you can expect to spend a minimum of 1 000. For a model with electronic ignition to remove the need for a pilot light you ll need to pay closer to 1 200. An electric hot water heater ranges in costs from about 300 to 700 while a gas heater ranges from 400 to 800. 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.

After analyzing gas vs. Can be put on a night rate electricity supply to get a cheaper rate. 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.

Electric water heater operating costs bluejay says that gas is almost always cheaper than electric assuming that you already have natural gas piped into your home. Lifetime energy cost is the sum of the discounted value of the annual energy costs based on assumed water heater life of 13 years. Very low running costs. Installing a new heat pump water heater can cost about 4 000 8 000.

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.