Electric vs Gas Water Heater Cost Calculator
Free electric vs gas water heater cost calculator. All prices are editable estimates, your local rates may differ.
How to calculate
Formula: electric kWh = demand ÷ electric efficiency. Gas therms = (demand ÷ gas efficiency) ÷ 29.307. Cost = energy used × price.
Worked example: demand 4,000 kWh, electricity $0.17 per kWh at 95% efficiency, gas $1.20 per therm at 65% efficiency. Electric cost = $715.79 per year, gas cost = $251.97 per year, gas is cheaper by $463.82 per year in this example. Change the rates to your local rates, because the cheaper option changes with local prices.
Tips
This compares running cost only, not purchase or installation cost. A heat pump water heater is a different type, with much higher efficiency, and is not the same as a standard electric resistance heater.
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Frequently asked questions
Are the prices accurate?
Prices are editable estimates. The defaults are typical US figures, and your local price can be higher or lower.