Water heaters are an essential part of everyone’s home. However, it goes unnoticed until it stops working or has an issue. Gas water heaters instantly provide hot water for all your needs, but they do so at a cost.
Knowing the cost of running a 50-gallon gas water heater will help you decide which one to buy if you are considering purchasing a new gas water heater or replacing your existing one. On average, the cost of running a 50-gallon gas water heater ranges between $400 and $2,200 per year. On a monthly basis, the cost is around $30.
How to Calculate Running Cost
You can follow a simple formula to find out the cost of running a 50-gallon gas water heater. This formula involves multiplying the therms your heater uses per hour by the number of hours it is on by the price you pay for the therms.
The Energy Factor
The energy factor impacts the cost of running a gas water heater. While the buying cost of a gas water heater may range as well, the range of energy these gas water heaters consume can be controlled.
The energy factor includes the water heater's recovery rate, standby losses, and cycling losses. The recovery rate refers to how efficiently water is heated from the heat source. Standby losses refer to how much the water loses its heat to the environment. Lastly, the cycling losses refer to how much the water loses its heat as it circulates through the system.
To calculate the EF of your gas water heater, you should take the amount of energy the gas water heater puts in and divide it by the total amount of energy that goes into powering the heater.
The closer the energy factor is to 1.0, the lower is the cost of running a 50-gallon gas water heater. This is because your gas water heater will be more efficient per month if it has a greater EF since it will use less gas. Typically, gas water heaters have an EF of 0.8-1.0.
Final Thoughts
You can determine the energy factor your gas water heater uses by looking at the manufacturer's label. If the label doesn’t mention the EF, you can use the above-given formula. After this, you can use the link here to calculate the energy cost. It will tell you the cost savings your gas water heater will provide over its lifespan.
Besides the running cost, you must also look at the maintenance and installation costs whenever you are purchasing a 50-gallon gas water heater. Additionally, consider the intrinsic value of your gas water heater for an aggregate amount.
