Does it matter how you get your hot water?
Are you concerned with how much it costs you?
Heating water is typically your homes 2nd most expensive energy consumer
Here we have a tale of two water heaters.
Water heater on the left Water heater on the right
All electric source Hybrid electric
$400 initial cost $1100
40 gallons capacity 50 gallons
$555 annual energy cost $162
6 yrs warranty 10 yrs
$0.00 rebates $350
$100 installation $300
$1055 first year cost $1212
You should notice that in spite of the fact that the water heater on the right costs a lot more initially and more for installation, the upgrade is less than half the annual energy costs. The "cheap" water heater would cost you $393 MORE to operate every year after the first year. The extra initial investment is recovered in less than 2 years! After that you are saving $32 per month. Try and get that kind of return on your money at the bank!
Both of these water heaters were installed in a basement. Unless other costly measures are taken the basement on the left will be damp and uncomfortable at the least and with a chance of mold growth The basement on the right benefits from the heat pump on the water heater which also dehumidifies the air as bonus. This helps keep the basement dry and healthy. Basements are typically used for storage and work or play areas. It is also the area directly under your living space. What type water heater would YOU choose?