Standard Gas Tank: Most new water heaters have an Efficiency Factor (EF) of . 58-. 60. That means that 58-60% of the energy that is being used to heat your water is effectively converted into heat.
An ENERGY STAR certified electric water heater uses different technology and can save a household of four more approximately $470 per year on its electric bills, compared to a standard electric water heater, and more than $4,500 over its lifetime. Larger families—that typically use more hot water—will save even more!
If your water heater is more than 10 years old, leaks around the base of the tank or if it works erratically, it's probably time for a replacement. You may also choose to upgrade to a more energy-efficient model to cut your energy expenses.
If your tank water heater is more than 10 years old, it may be time to consider replacing it. With proper maintenance, a tank water heater tank should last six to 12 years. A tankless water heater can last for more than 20 years. Check your water heater's warranty for the most accurate timelines.
Gas water heaters are much less expensive to operate long term. Overall, you'll likely spend less money running a gas water heater than using an electric water heater. Still, because the costs of both natural gas and electricity vary by region, you should compare the price of each before making your final decision.
Many people find that the highest amount of savings comes from daily operating costs in gas vs. electric water heaters. Energy-efficient gas water heaters generally cost less to operate than electric heaters, but your water consumption needs may change your overall operating expenses.
While an electric water heater does heat water slower and more expensively than the gas models do, it heats the water more efficiently. The heating rods are submerged in the water in a sealed tank, so there is very little heat loss.
Modern water heaters are far more energy-efficient than older models, new glass liners make tanks less prone to corrosion. Choosing to upgrade gives you the option of getting a larger tank or other tank options. The biggest pro of all is the energy efficient models available, which can cut down on expenses.
As a result, most insurance companies require their clients to replace their hot water tanks after 10 years; otherwise, they won't be covered under their homeowners insurance in the event of water damage.
Tankless water heaters typically have a lifespan of 20 years or more. Traditional water heaters with standing water tanks can last around 10 to 15 years before you notice signs of age.
Advantages and Disadvantages
The initial cost of a tankless water heater is greater than that of a conventional storage water heater, but tankless water heaters will typically last longer and have lower operating and energy costs, which could offset their higher purchase price.
Rheem and AO Smith manufacture electric and gas heaters. But that is where the similarity ends. The primary differences lie in cost, availability, accessibility, and product range. But let's take an in-depth look at each heater to determine where they differ.
Rheem's Marathon Water Heater is the Most Durable Water Heater Ever Made - Rheem Manufacturing Company - Rheem Manufacturing Company.
Tank to Tank Installation: On average, replacing a gas or electric water tank with a similar model takes two to three hours. It takes between 45 to 60 minutes to drain, disconnect and remove your old water heater.
One of the signs that your water heater is going bad is if it starts to overheat. This can be caused by a build-up of sediment in the tank or hard water build up on the heating element. Because the burners have to work harder to bring the water to the proper temperature they stay on longer, causing high temperatures.
According to IBHS, 69% of water heater failures are a result of a slow leak or sudden burst, causing significant water damage. Not only are these claims frequent, but IBHS also estimates that they cost an average of $4,444 per claim.
As the water heater ages, it loses its efficiency and will become more prone to failure.
Tankless water heaters (also known as on-demand water heaters) are nearly as efficient as heat pump heat pump water heaters, and can be a great choice for homes with existing gas-powered water heat.
In fact, it often makes sense to replace an inefficient water heater even if it's in good shape. The energy savings alone could pay for the new water heater after just a few years, and you'll be happy knowing that you are dumping fewer pollutants into the air and less money down the drain.
Switching from gas to electric
While not as common, it is possible to switch from a gas water heater to an electric one.
The disadvantages to a water heater fueled by gas are: Generally more expensive on the front-end cost. Requires more maintenance. Less efficient when it comes to heat loss.
Depending on your local utility costs, gas water heaters are typically cheaper to operate than electric. They also cost more upfront than an electric. However, based on energy savings, gas heaters generally make up the difference in price in about one year. Cost: $300 to $600 for gas; $250 to $500 for electric.