Average Tankless Water Heater Cost

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Average tankless water heater cost.

Installing a tankless water heater is a greater upfront investment but these units can significantly cut the cost of monthly utilities. The average cost of a tankless water heater installed is around 2 500 4 500. Tankless water heaters cost around 2 3 times more than traditional storage tanks. A small point of use tankless water heater typically electric for a single sink shower can cost 120 350 for a unit that fits under a sink or in a cabinet and produces 2 2 5 gallons per minute gpm.

Here are some examples of water heater prices available from popular home improvement stores. Costs are similar for tank style water heaters though a gas tank water heater may cost 50 to 100 more than an electric tank water heater. The average cost for a tankless water heater installation is 1 985 or between 1 470 2 510 if your home needs to be rewired it can easily add 3 000 or more to the cost of installing a tankless water heater. Tankless water heaters are installed near the point of use or place where the hot water is needed.

The low end tankless model costs about 430 minus installation while the average purchased model costs around 1 200. The best way to budget for a new tankless water heater is to compare quotes from local contractors. Tankless water heater cost. Installation is also cheaper usually about 300 to 500 bringing the total cost in the range of 600 to 1 100.

While a standard water heater wastes 30 percent of. Often times special wiring needs to be installed in order to handle the increased load and or a new vent pipe needs to be installed. The cost of a gas powered unit costs around 1 600 without installation. A tankless water heater that is purchased brand new will cost up to 2 000 and a whole house water heater tank costs anywhere from 600 800.

Department of energy estimates that in homes using 41 gallons or less of hot water on demand tankless units can conserve between 24 to 34 more energy than tank water heaters. How much a tankless water heater should cost. Tankless water heats are more expensive primarily due to higher installation costs. The average cost of a tankless water heater including installation is 3 000.

Most conventional water heaters cost 300 to 600 less than half the cost of tankless varieties. A tankless unit uses 30 to 50 percent less energy than a standard water heater saving the average family more than 100 a year on heating costs. A gas tankless water heater typically costs at least 500 more than an electric water heater. Tankless water heater cost.