Gas Vs Electric Water Heater Cost Comparison

Hot water usage estimates.

Gas vs electric water heater cost comparison.

Gas water heaters tend to have higher initial costs than comparable electric water heaters but can also cost less to operate. Future electricity price trends and a discount rate of 3 2 are based on federal guidelines. An electric hot water heater ranges in costs from about 300 to 700 while a gas heater ranges from 400 to 800. Also non condensing type gas water heaters are less expensive but need extra cost for installation of venting pipe.

Gas water heaters average in cost from around 400 to as high as 2 000 not including labor fees. But there s a catch if your home doesn t already have natural gas. 0 93 per therm for gas is the federal average price in the u s. 0 09 per kwh for electricity is the federal average price in the u s.

To purchase a gas fueled water heater you have to spend about 1000 1200 whereas by paying 500 you can get an electric water heater. The gas fueled water heater is costly than the electric one. In general however statistics show that a gas water heat will cost around 30 month for the average home while an electric heater will cost you closer to 42. The approximate price tiers for some electric and gas tankless water units based on size are listed below.

However the bigger your unit gets the more expensive it becomes and this is true for both electric and gas units. The cost of a water heater varies depending mainly on how big. 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.