Discussions

My gas water heater tank is leaking, I am planning of replacing it with an electric powered tank. Is it a wise decision? Insights please.

would be better off to replace your leaking gas water heater with the same. More economical in my opinion. Drain the sediment out of the tank every couple months and change the anode every 2-3 years.

Ok. thanks

The answer will be clear.

are more expensive to start with and also to switch out as you need a gas fitter or someone qualified.  
 
electric heaters are cheaper to buy, by a few hundred and if your handy you can switch out your own once set up.  
 
but electric is more expensive to operate and with electric rates going up it will get more expensive.  
 
look to the future, if your planning on an upgrade to your older furnace, maybe it would make sense to get a Hi Eff gas water tank, then when you switch out the furnace to a hi eff you can close off the chimney.  
 
I would get a couple of plumbers in to get their opinion on your set up for the future, and compare costs  
 
try Hydros web site they have an estimate of operating and replacement costs for furnaces and water heaters that will give you an idea.

consider the cost of running wire, installing breaker etc.

For an electric hot water tank you require a 200 amp panel.  
Gas hwt are less expensive to run and have a quicker heat recovery than an electric.

Gas is cheaper than electric, but have you considered solar water heating? It comes with an electric back-up element, getting you off of gas and giving you the best value in the long run. There are also incentives

I agree with fisher and in fact this is what I did in my house I re did my whole house and changed to a high efficient gas furnace and in doing this no longer needed my chimney for my furnace.a gas hwt is usually a few hundred more and then like previously mentioned you need a qualified guy which you should have regardless and also its more work for that qualified guy so it'll cost more to change it also gas permit and more material not to mention I believe your house insurance cost more with every fire or wood burning appliances. Now having said all that Hydro is going up as previously mentioned so all you really have to weigh out is do you really save that much to make up for the extra costs? Tanks don't last a 100 years anymore expect about 5 years are you gonna save that much in 5 years? And the other thing is that chimney are you going to want to close that up? It is a good idea to epically if your planning on doing your roof in the next while then it saves you from having to do it after if you really change your mind. Hope this helps but my over all opinion is do what I did change to electric and close the chimney. Also mentioned was breaker and wire yes but also remember next time you change that tank that cost will be erelevent that's a one time cost.

I'm having second thoughts in going to electric because it will be cheaper next time besides no more chimney as I already have a high efficient gas furnace.

If anyone needs anything just ask. I do just about anything. Drywalling. Mud and taping framing. Ticketed plumber and gas fitter. etc. I could take that chimney out for ya if needed as welll. I do Free qoutes. So never hurts to weigh options. 204-761-9500. Text or call.