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Water Heater Cost Calculator: All Factors To Consider

You’re looking to purchase a water heater, so you’re looking into annual water heater cost. You obviously want to save as much money as possible, but you also want to ensure an efficient system. So, how do you go about determining the best, most cost-effective, energy efficient water heater for you home?

You calculate common cost factors, scale the pros and cons of different models, and then factor in your current financial circumstances and personal preferences. Calculating water heater cost is a process that takes time, but it’s a process that ultimately saves you money and ensures energy-efficient heating.  Here are some basic tips to get you started on forming your water heater cost calculator.

Your Cost Calculator: The Main Factors

According to the Departure of Energy, there are specific formulas for calculating gas and oil water heaters vs. electric water heaters. These energy-focused equations are a bit complicated, so we’ve narrowed it down to the three most important factors:

  • Energy factor (or energy efficiency)
  • Fuel type
  • Unit cost of fuel

You may need to ask a professional for specific calculations, but these three cost-defining factors should be the main determinants in your water heater purchase. It’s also helpful to compare the original cost of your water heater against your annual cost (this gives you a better idea of it’s energy efficiency and your overall return on investment.)

Your Cost Calculator: A Non-Efficient Water Heater

Your annual water heater costs go up with a non-efficient (or tank) water heater. Here’s how these storage water heaters cost you more money:

They use excessive amounts of hot water
Tanks are not always properly insulated
The system lacks heat trap (pipe valves that prevent the cooling of water)
Tanks usually contain built-up sediment, which impedes heat transfer and lowers efficiency

Your Cost Calculator: A High-Efficient Water Heater

Your annual water heater costs go down with a high-efficient (or tankless) water heater. Here’s how these instantaneous water heaters save you more money:

They only provide hot water as needed
They save space (no tank)
They contain an endless supply of hot water

Your water heater is an investment, and you want a high return on that investment. By correctly calculating cost factors and researching the defining differences between system models, you’re better able to accurately estimate your annual water heater costs, and choose the best system for your home.

For more information on choosing the right water heater for your home, call 610-431-1616 (Chester County, PA) 610-565-9999 (Delaware County, PA) 610-879-0511 (Montgomery County, PA) or speak with an expert HVAC technician at MoreVent Heating, Air Conditioning And Plumbing.