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While heat pump water heaters are more expensive than gas-powered water heaters, the ROI is higher for heat pump units. Not only are heat pump water heaters more energy efficient, meaning immediate savings on your energy bill, but they also last longer than traditional gas versions, meaning you won't have to buy them as often.

A tankless water heater can last up to 20 years, which is nearly double the lifespan of a conventional tank heater. However, their longevity is highly dependent on several factors. With proper installation and regular maintenance, such as descaling to prevent mineral buildup from hard water, you can expect a lifespan of 15 to 20 years. Without proper care, a tankless unit may begin to fail in as little as 12 years. Other factors that affect its lifespan include household usage and the quality of the local water supply. While they have a higher upfront cost, their energy savings, smaller size, and longer life make them a worthwhile investment for many homeowners.

No state requires you to vent an electric water heater. Other installation requirements for water heaters will vary, though, depending on the state and local jurisdiction in which you live. Some places require permits, while others don’t. Some may force you to place the appliance a certain distance from any walls or other appliances, while others don't. When you find a local professional to install a water heater, this expert will ensure you follow all the local regulations.

While a water heater explosion is rare, it is a serious danger. Be aware of these critical warning signs:

• Sulfur or Rotten Egg Smell: This is a major red flag, especially for gas water heaters. It can indicate a gas leak, which could ignite and cause an explosion.

• Leaking Pressure Valve: If the temperature and pressure (T&P) relief valve is leaking, it may not be able to properly regulate internal pressure, creating a risk of bursting.

• Shaking or Rumbling: Loud rumbling or shaking from the tank can be a sign of extreme pressure buildup.

• Excessive Heat: If the exterior of the water heater feels unusually hot to the touch, the unit may be overheating dangerously.

• Rust-Colored Water: This can be a symptom of severe internal corrosion that compromises the tank's integrity.

If you notice any of these signs, especially a gas smell, you must act immediately. Shut off the gas supply to the water heater and call a professional plumber right away to prevent a potential disaster.