How Much Is a Tankless Water Heater?

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We all love our home and try to make it as convenient as possible. One of the common and most important conveniences of every house is water support. People require water to wash themselves, as well as to wash clothes, dishes, etc. When we talk about washing ourselves, we surely require a special water heater that helps to get hot water. Many people prefer to use a tankless water heater.

It is a very popular home device and so you will see it in many houses throughout the country. If you intend to buy a tankless water heater from contractorfinder.noritz.com, you should check all its features, as well as its price. How much is a tankless water heater? We cannot give you a certain answer because many things affect its total price. These are as follows:

  • Size
  • Model
  • Type
  • Manufacturer.

On average, the prices range from $300 to $2,100. Accordingly, you may buy quite a cheap model, as well as a pretty expensive one. You should not forget about the installation services! Mind that a tankless water heater helps to save from 8% to 34% of energy consumption. Therefore, it is a very wise investment in your house and convenience.

The Price According to a Type

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Before you buy a certain device, you ought to check its type. There are four major types of tankless water heaters and the main difference depends on the fuel type. Check those types and their prices:

  1. Gas is $700 – $4,600
  2. Electric is $600 – $2,500
  3. Propane is $700 – $4,600
  4. Solar is $1,500 – $6,600

Mind that we have mentioned the total cost for the installation. The main advantages of the tankless water heaters are as follows:

  • The lifespan of operating is 10-20 years. It is much longer compared to the options with a tank. Those serve for 5-10 years only.
  • Their warranty is 15 years. Some manufacturers offer a lifetime warranty.
  • They save about $40-$200 of energy expenses every year.
  • It may take from 3 to 10 hours to install a new heater. In case it is required to replace an old one, it takes 2 hours on average and is never more than 4 hours.

The Cost of Installation

You should always take into account the expenses for installation. They may take from $700 to $4,600 on average. The fuel type affects the cost as well. For example, gas water heaters are more expensive, but they have one great benefit. They help to save up our money for paying for energy. Thus, you will pay something between $150 to $260 yearly. If you prefer an electric type, you will pay from $300 to $540 annually.

To define what option is better for you, we should review all the details related to installation. These are as follows:

  • Unit price for gas types is $400 – $2,100 and $300 – $1,000 for electric types.
  • Labor cost for gas types is $300 – $2,500 and $300 – $1,500 for electric types.
  • Total cost when a device is installed ranges from $700 to $4,600 for gas types and $600 – $2,500 for electric types.
  • The annual operating cost is $150 – $260 for gas units and $300 – $540 for electric units.
  • Warranty for gas units is about 10 – 15 years. As for the electric analogs, it is 5 – 10 years.
  • Maximum gallons-per-minute (GPM) is 10.6 in gas types and 8 for electric types.
  • Eligible energy tax credits are given for gas units, but they are not given for electric units.

You should also know that the most energy-saving option is a solar tankless water heater. It helps to reduce the cost from 50% to 80% every year! In the meanwhile, it has the highest cost for labor. Give heed to the labor cost for installation according to the fuel types:

  1. Gas: $300 – $2,500
  2. Electric: $300 – $1,500
  3. Propane: $300 – $2,500
  4. Solar: $2,000 – $3,000

Remark! These prices do not include tax credits and rebates.

Converting Expenses

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At times, householders want to replace their tank-storage units with tankless analogs. Thus, you should also give heed to the possible expenses. They range from $800 to $3,500 on average. There are several crucial factors that affect possible expenses. They are as follows:

  • Removal of an old tank water heater is about $75 – $500.
  • A new electrical outlet costs about $140 – $275.
  • If you want to upgrade the gas supply line, it will cost about $350 – $750.
  • If you want to replace a gas vent system, you will spend about $100 – $600.
  • Permit costs $25 – $250.
  • If you should bring old plumbing up to code, it will be about $75 – $500.
  • An attic or closet installation costs $75 – $150.

Power Vent vs. Direct Vent Options

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There are also two types that help to get rid of the hazardous exhaust. Some use direct ventilation and some use power ventilation. What is the difference?

  • The direct vent draws air from outdoors. It may be installed in a small and enclosed space.
  • The power vent gets air indoors from around the heater. It also uses an electric blower to get rid of the hazardous exhaust.

You should also be aware of the differences in the location of tankless water heaters. Some of them can be installed outside. It means that it is temperature resistant. They easily withstand wind and rain. Besides, they have no need for venting or drainage.

Indoor analogs are commonly used in locations with severe frosts or windy climates. Use them if you want to escape possible damage. No tankless water heater can withstand severe frosts or strong winds. Consult your expert on installation.

The Bottom Line

As you can see, the price of a tankless water heater may be quite different. A lot depends on the price influencers we have highlighted in our article. You should also check all the benefits of a tankless water heater to be 100% sure it will suit your needs. Thus, you will get your water heated for a bath or shower whenever the need appears.

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