DNV GL prepared for the CPUC an assessment of the cost of ownership of efficient gas and electric water heating technologies within each IOU territory.
Their findings suggest that gas water heaters, both storage and instantaneous, remain the most cost-effective across all utilities and rate plans. On the other hand heat pump water heaters appear to be most economical under TOU rates in single family homes and provide more savings to multi-family customers.
Click here to read the full draft report on EE Stats
Alternatively click here and Search ‘Water Heater’