From the below table, we can see HEAT PUMP WATER HEATER is the best choice for energy saving and bill saving. The below table is based on old oil price at USD2.4/GALLON. In current more than USD4/GALLON, the heat pump energy saving will be more striking. In addition, Chengda Air Source Heat Pump , Efficiency can reach 3.9. The energy and bill saving will be much more great.
| Water Heater Type |
Efficiency (EF) |
Installed Cost 1 |
Yearly Energy Cost 2 |
Life (years) |
Total Cost (Over 13 Years) 3 |
| Conventional gas storage |
0.60 |
$850 |
$350 |
13 |
$5,394 |
| High-efficiency gas storage |
0.65 |
$1,025 |
$323 |
13 |
$5,220 |
| Condensing gas storage |
0.86 |
$2,000 |
$244 |
13 |
$5,170 |
| Conventional oil-fired storage |
0.55 |
$1,400 |
$654 |
8 |
$11,299 |
| Minimum Efficiency electric storage |
0.90 |
$750 |
$463 |
13 |
$6,769 |
| High-eff. electric storage |
0.95 |
$820 |
$439 |
13 |
$6,528 |
| Demand gas (no pilot) 4 |
0.80 |
$1,600 |
$262 |
20 |
$5,008 |
| Electric heat pump water heater |
2.20 |
$1,660 |
$190 |
13 |
$4,125 |
| Solar with electric back-up |
1.20 |
$4,800 |
$175 |
20 |
$7,072 |
1. Purchase costs include our best estimates of installation labor and do not include financial incentives.
2. Operating cost based on hot water needs for typical family of four and energy costs of 9.5¢/kWh for electricity, $1.40/therm for gas, $2.40/gallon for oil.
3. Future operating costs are neither discounted nor adjusted for inflation.
4. Estimates for tankless gas water heaters are based on the federal EF rating method, which may over-estimate the efficiency of tankless water heaters in houses. |
