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Home Energy
Water Heater Cost Calculator
Find the cheapest water heater for your home. Compare annual operating costs for gas tank, electric tank, tankless gas, and heat pump water heaters.
Daily hot water usage: ~60 gallons (3 people × 20 gal/person)
| Water Heater Type | Annual Cost | Unit Cost | 10-Year Total |
|---|---|---|---|
| Electric Tank | $641/yr | $700 | $7,106 |
| Gas Tank | $263/yr | $900 | $3,528 |
| Tankless Gas ✓ Best Value | $128/yr | $1,500 | $2,782 |
| Heat Pump | $214/yr | $1,400 | $3,535 |
10-year total includes purchase price + 10 years of operating costs. Heat pump water heaters qualify for a 30% federal tax credit, reducing upfront cost to ~$980.
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