Hot Water Heaters for Your Home

The electric hot water heat is by far the most expensive heater to operate although it is the least expensive to buy. Typically you can purchase a 40 gallon storage tank electric hot water heater for approximately $400, depending where you buy it. However, for a household of four it will cost approximately $200 a month to heat the water. By far this is the most expensive of all the methods to heat water.

The gas fired hot water heater cost is approximately $350 to $450 for a 40 gallon storage tank and for a family of four it will cost approximately $180 a month to operate using LP gas and approximately $150 for natural gas.

There are two ways to heat water using oil. One is off a boiler or with a separate hot water heater. Either way heating hot water with oil is the least expensive. If the hot water is heated by the same boiler that provides heat to the house you have a choice of having a storage tank that is connected to the boiler or an on demand hot water unit that is part of the boiler.

The on demand hot water heater or tankless hot water heater, cost approximately $160 a month to operate. Keep in mind that every time there is demand for hot water the boiler will fire start to heat the water as you use it. This frequent starting and stopping does add maintenance cost to maintain the boiler.   

An oil fired boiler with a storage tank for hot water has a heating element in the storage tank that is plumbed to the boiler. The boiler has a separate water circuit that runs to the tank to heat the water in the same way the boiler heats water for baseboard heat in a forced hot water heating system. The cost for a 40 gallon storage tank is approximately $700 and cost approximately $120 a month to heat hot water for a household with four people.

A separate oil hot water heater cost approximately $1000 to $1100 depending where you buy it. The cost to heat the water for a family of four will run approximately $120 dollars a month to heat the water for a household of four.