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- According to the American Council for an Energy-Efficient Economy (ACEEE), gas water heaters are rated between 0.60 and 0.86 in energy efficient standings, with the higher number representing the more efficient option. Conversely, electric water heaters will average 0.90 to 0.95 in efficiency ratings, with electric heat pumps topping the charts at an average rating of 2.20.
- Information published by the ACEEE states that the average cost for gas water heaters would run $244 to $350, whereas electric counterparts range from $190 to $463 on average. Annual operating costs are determined by energy efficiency ratings, but are also subject to change based on the size and volume of the water heater.
- According to the California Consumer Energy Center, before selecting an electric or gas water heater, a consumer should consider the cost of electricity versus gas in his area. In some states, gas is cheaper than electric, making gas water heaters a more viable selection for savings over time.
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