If you're replacing your water heater, here's what you need to know.
A water heater is one of those home appliances that you don't think about until it stops working. However, a water heater can be a major energy eater, whether you're buying one for a new home or replacing your decades-old water heater. According to the US Department of Energy, water heating is the second-largest energy expense for most homes, accounting for nearly a fifth of all of your home's energy usage in a month -- which is why we put together this water heater buying guide. Finding the water heater model you want in your home is not a decision you should take lightly. Water heaters will last anywhere from 10 to 20 years typically, depending on the type, which means you'll live with your choice -- and its expenses -- for up to two decades. You want that price tag to be as small as possible while getting the hot water you expect. You'll have to wade into the deep end and sort through the different types of water heaters, fuel sources, capacities, costs over time and additional features. While it may seem overwhelming at first, we're here to help you decide which water heater is right for you and your home. Types of water heaters If you're new to the water heater market, you might not even realize there are different types to choose from. While storage water heaters remain the most common, there are a variety of water heater types, each with their own unique set of features and functions. Storage water heater "Storage water heaters, also called tank water heaters or traditional water heaters, use electricity or gas for heating water," said Kelly Russum, owner of KC's 23 ½ Hour Plumbing and Air Conditioning in Palm Springs, California. The storage water heater is the most common type of water heater for both residential and commercial buildings. It consists of a tank that holds a certain amount of water, typically ranging from 20 to 80 gallons. The tank is insulated to help retain heat and keep the water warm until it is needed. A storage water heater…