Tankless Water Heater Cost

Suppose you are thinking about replacing your tank-type water heater with a tankless one. In that case, it is wise to know the cost of buying a new one, installing it at home, and operating daily. Remember that a tankless water heater also needs a power supply when considering the costs.

The cost of a tankless water heater will depend on the type of unit as well as the specific brand and model. When considering purchasing a new unit, be sure to factor in the cost of installation as well as any necessary permits or fees. 

Remember that you will likely increase your energy bill when using a tankless water heater. Therefore, it is important to calculate these additional costs when deciding if a tankless water heater is right for you.

Moreover, installing a suitable unit can be more cost-efficient if installation is done properly and proper usage and maintenance are applied. Consider these factors when calculating the tankless water heater cost:

Price, Brand, Features

The price of a tankless water heater depends on the brand, features, and design. The most affordable unit costs around $150 to $500, while the most expensive one costs around $3,000 or more.

Electric models are suitable for homeowners who want to save on operating expenses. It is efficient enough to provide the daily needs for hot water.

Tankless water heaters are operated using both natural gas and propane. A solar-powered tankless water heater is the most expensive one.

The unit price also varies depending on the brand, manufacturer, and features.

Installation

The installation cost is another factor to consider when summing up the cost of tankless water heaters for the home or office use.

It is important to note that a professional technician should appropriately do the installation to ensure efficiency. Also, most warranties become void if installation is not professionally done.

Furthermore, it may cost more to install gas–operated units because it requires a safe ventilation system. Good thing the federal state acknowledges the use of renewable energy systems by giving a 30% tax credit. Solar water heaters are powered by electricity and tend to be more expensive than gas units.

You also have to factor in the maintenance costs of each type of system. For example, gas water heaters require regular maintenance to ensure that the pilot light is working properly and that there are no leaks. 

Likewise, solar water heaters must be regularly cleaned to prevent the build-up of sediment and debris.

Operation

For electric tankless water heaters, the annual operating costs range from $75 to $500 depending on the unit and the number of users. Other factors also affect the energy consumption of the unit, such as the age of the unit, size, temperature setting, and volume of water used daily.

It is significantly cheaper to operate the unit using gas, provided the house is already equipped with a gas line or pipe. On the other hand, electric water heaters cost more in terms of operation, can last up to 12 years, takes more time for water to get hot, will not work without electricity, and will be more efficient due to zero heat loss. 

On the other hand, a gas water heater costs less to operate, can last up to 13 years and more, takes less time to heat the water, can work even without electricity, but is less efficient due to heat loss.