Water heater cost: Find out how to save money | About magazine

So you are investigating the cost of water heaters. That usually means one of two things: 1) Your current heater is slowing down as you work and just isn’t heating as efficiently as it used to be. OR 2) Your old device goes out with a bang – leaking, making strange noises, and peppering your hot water with rusty stains.

Whatever the reason, you are willing to pay a reasonable cost for the water heater, but you would really prefer not to over-spend.

Never be afraid. Here are seven helpful tips to save you money on the cost of your water heater.

1. Decide whether to repair or replace the water heater.
Does your current water heater still fall into the “slow down at work” warehouse? Call a reliable service technician. If your heater doesn’t leak or rust or explode, a good repair or repair can put a few years off buying a replacement, especially if yours is relatively new.

2. Know the expected lifespan.
Know how long your water heater model is likely to last so you can plan replacements in advance by putting your budget together and shopping at the best price or special offer. A tank water heater typically lasts about 8 to 12 years, while a tankless model should last about 15 years.

3. Choose the right size.
Conventional water heaters have tank sizes ranging from 20 to 100 gallons (although 40 to 80 are most common). Avoid buying a device that is too large for your needs. You will be spending too much upfront on the cost of the water heater and paying too much energy for the life of your device.

4. Decide on the best type of fuel.
Choosing a natural gas or electric heater initially depends on whether you already have a gas pipeline to your house. Gas water heaters usually cost more upfront but less fuel if you live in one of the many areas of the country where gas is cheaper than electricity. (Plus, they heat up faster and keep working even in the event of a power outage.) So you can benefit from lower utility bills long after the purchase price has become a fading memory.

5. Consider upgrading to a Tankless or Hybrid.
There are a few energy efficient “new faces” in the water heater scene. In both cases, the initial cost of buying and installing the water heater tends to be more expensive, but you save money and energy to run it in the long run:

• A water heater without a tank heats up when needed and does not waste energy to keep a water tank hot all the time. In addition, due to its cladding profile, it is very suitable for condominiums or house extensions where little space is available.

• A hybrid water heater (AKA, a heat pump water heater) also heats water if necessary. However, its technology includes a storage tank that fills up with heavy use. Voila! The best of both worlds – plenty of hot water when you need it most, plus energy savings. According to Rheem, a hybrid water heater is four times more efficient than a traditional electric model and significantly reduces your carbon footprint.

6. Check the warranty.
A solid guarantee is another route to maximum savings and convenience. For example, a non-metallic, corrosion-resistant polybutene tank (which eliminates the need for an anode rod, makes draining your water heater a thing of the past, and eliminates the possibility of messy, destructive flooding) offers an impressive lifetime warranty.

7. Take advantage of discounts, specials and tax credits.
Energy Star has a comprehensive list – searchable by zip code – of discounts and specials from utility companies (such as low-interest DOE loans) that can save you money on a variety of large appliances, including water heaters. Don’t forget to apply for the $ 300 Non-Commercial Energy Property Tax Credit for Water Heater Costs for an Energy Star Certified, Enhanced Efficiency Model.

—Laura Firszt | More content now

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