Gas vs electric hot water comparison.
Electric storage: $800-$1,800 upfront, $500-$800 per year running, 8-12 year lifespan.
Gas storage: $1,000-$2,000 upfront, $300-$500 per year running.
Gas continuous flow: $1,200-$2,500 upfront, $250-$450 per year, 15-20 year lifespan with unlimited hot water.
Ten year cost: electric $7,800, gas storage $5,500, gas continuous flow $5,300.
Choose electric if no gas connection.
Choose gas continuous flow for lowest long-term cost and unlimited hot water.
Consider heat pump for lowest running costs with government rebates..