Tankless Vs Tank Water Heater Cost

You can also save up to 40 on your energy costs for water heating using this modern style unit.

Tankless vs tank water heater cost. According to home depot it costs between 2 044 to 5 898 with the average being 2 979 to have a tankless water heater installed accounting for the heater installation materials any. When you realize that heating water makes up about 20 of your home s energy usage that s a nice savings. Along with their longer lifespan tankless water heaters are known to have reduced monthly energy bills helping offset their higher purchase price. We paid 570 electric and 600 gas for the two 50 gallon rheem tank water heaters we tested but we have seen tank water.

The price to purchase a tankless water heater can range anywhere from 200 1800 depending on the type of unit you choose to buy. Most conventional water heaters cost 300 to 600 less than half the cost of tankless varieties. In this post. Installation is also cheaper usually about 300 to 500 bringing the total cost in the range of 600 to 1 100.

Tankless heaters typically cost more to install but have similar purchase costs. In fact tankless water heaters last about twice as long as conventional water heaters with a tank. However high efficiency tank water heaters can be pricey running up to 1 500 uninstalled. Installation costs around 45 to 65an hour which adds 90to 200to the total cost.

They can be output challenged. This means when you are simultaneously taking a shower and doing laundry the tankless water heater may fail to keep up with the hot water demand of both. This makes the final price between 590and 700for the average water heater. The doe notes that storage tank water heaters typically last 10 to 15 years while most tankless units have a life expectancy of 20 years or more.

Larger units with a higher gallons per minute rating will cost more so. Tankless water heater cost.