Heating water can account for up to 20 percent of your average home energy bill. With new green initiatives for energy efficiency, most people are replacing their old water heaters with new, more energy-efficient models. These new water heaters may be more expensive upfront but will save you money in the long run.

There are three different types of water heaters:
  • Storage-tank heaters
  • Tankless heaters
  • Hybrid electric heaters