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.

Gas vs electric hot water heater cost.

The answer depends on 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. 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. Installing a new heat pump water heater can cost about 4 000 8 000.

Very low running costs. However you will have to take the cost of the electricity used to operate the heater into consideration. Electric costs homeowners often ask if a gas water heater or an electric unit is more cost efficient. 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.

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. Running costs for a heat pump water heater cost approximately 150 650 a year depending on the electricity rate and the average outdoor temperature. Future electricity price trends and a discount rate of 3 2 are based on federal guidelines. 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.

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. 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. In many cases using an electric water heater will result in higher utility costs as compared to using a gas water heater. While gas models are less expensive to operate they do require an existing natural gas line.

0 09 per kwh for electricity is the federal average price in the u s. The higher the ef number. 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. Water heater cost types and storage.

0 93 per therm for gas is the federal average. After analyzing gas vs. The price tag of an electric water heater is usually lower but it can be more costly to operate. Electric water heaters typically have a lower upfront cost than gas water heaters.

A tankless electric water heater has an average cost between 800 and 1 500 plus an additional 800 to 1 200 for installation. Can be put on a night rate electricity supply to get a cheaper rate.