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Gas vs. Electric Water Heater Prices
Hot water is an important staple of civilized living. It’s an important issue that will affect the lives of the people who live in the home. The costs will vary from system to system. We want to know not only what the cost will be up front to install these systems but running costs and longevity are factors that become just as important over time. Roughly 25% of your daily energy costs will go to heating water so it’s an important decision that will not only affect your daily life, but your finances.
To find out exactly what it will cost to heat water by electric heat vs. gas heat you must do a little bit of calculating to find out what the average costs of running an electric water heater and the average costs of running a gas heater.
The first step of calculating which water heater is best will be to do some calculations based on the amount of energy a unit produces vs. the costs of what it costs to use that amount of energy. This article on water heating comparisons does a nice job of explaining the calculations you must do as a homeowner to find the exact cost of running each unit respectively.
Basic Equation: Energy Factor (EF) X Fuel Cost (BTU) X 365 (days in one year)
The amount of Americans that currently own an electric water heater vs. a natural gas water heater is even, about 50% for each. 5 million Americans buy a gas water heater an 5 million buy an electric water heater. However, the scales are tipping towards gas powered units.
Electric Water Heater Cost
The average cost of an electric water heater is $650. You may find a cheap under the sink electric water heater for $200. It can easily cost $1,000 to $1,600 for a quality unit.
Gas Water Heater Cost
The average cost for gas water heating units is $850. That will buy you a decent water heater that is rated for 12 years. These, too, can be found for cheaper than that price. You may find a 3 year rated water heater for about $350. Quality units can cost $1,000 to $1,400. Shop and compare gas hot water heaters.
Gas Water Heater Cost vs. Electric Water Heater Cost
Gas water heaters are slowly becoming the most popular water heating systems in the USA because of the rising costs of electricity. They cost a little more up front to install. They also offer costs savings annual energy costs.
The running costs vary from gas to electric. The average running cost for an electric water heater is $550. The average running costs of a gas water heater is $400. The difference in usage price per year is $150. You will average more savings if you live in a cold climate and will average less if you live in a warm climate. In other words, you will naturally save more if your hot water heater runs a lot because it’s cold.
The costs of running your new water heater are extremely dependant on your geographic location. A home in Arizona where the winters are mild is going to use a lot less heating energy than will a home in the northeasteastern USA where the winters are cold. In cold climates people typically turn their water heaters up during the winter months, and consequently, use a lot more energy.
Although you will spend more energy up front for a gas water heater, most people will realize savings in their annual water heating costs by purchasing a gas powered unit.