How much does a tankless water heater cost guide, Sydney house maintenance ips, NSW home drainage advice
How Much Does a Tankless Water Heater Cost?
7 April 2022
All modern houses and flats commonly have all kinds of appliances. They are required for convenience, safety, and effectiveness. One of the common devices is a water heater. There are two kinds of water heaters. Many people stick to a tankless water heater.
Why is it so sought-after? Well, it has a number of serious and important benefits. When people are sure they want to buy a tankless water heater, they should take into account various features and conditions, including the issue of price. How much does it cost?
It is not easy to answer this question, for there are various things that affect it. Among the most vital are type, model, manufacturer, and size. Besides, you should not forget the expenses for the installation of the heater, unless you are qualified enough to do it yourself.
However, it is always a risk if you are not a certified professional. On average, the price starts at $300 and may reach $2,100. Mind that solar tankless water heaters may cost even $6,000+. This informative article will shed more light on this crucial matter. Therefore, be attentive to evaluate all the odds and thus make the right choice.
Types and How They Affect the Cost
The cost of a tankless water heater largely depends on its type. People commonly divide them into 4 types that take into account the fuel a certain water heater requires. Take a look at the next list:
- Electric is $600 – $2,500
- Gas is $700 – $4,600
- Propane is $700 – $4,600
- Solar is $1,500 – $6,600
The prices do not include expenses for installation.
The Cost of Installation
If you buy a tankless water heater, you are not done fully. It must be installed, and it is always better and safer to hire a professional. The expenses for installation may take from $700 to $4,600. A lot depends on the fuel types, labor cost, and so on.
When you select a type of tankless water heater after the fuel type, you commonly choose between gas and electric units. Let’s review the cost differences here below:
- The unit price for gas types is $400 – $2,100. The price for electric types is about $300 – $1,000.
- Labor cost for gas types is $300 – $2,500 and $300 – $1,500 for electric types.
- When a device is installed, the total cost ranges from $700 to $4,600for gas types and $600 – $2,500for electric types.
- The annual operating cost is $300 – $540 for electric units and $150 – $260 for gas analogs.
- Warranty for gas units lasts for 10 – 15 years on average. If you buy an electric analog, it will be from 5 to 10 years.
- Maximum gallons-per-minute (GPM) is 10.6 forgas types. If you prefer an electric type, you may count on 8 GPM.
- Eligible energy tax credits stand only for gas units. You will not get them if you stick to electric units.
Obligatorily take into account all these features before you make the decision. They will show which option is more profitable for you.
If you buy and install a solar tankless water heater, you will save a lot on energy billing. You are likely to reduce the cost from 50% to 80% per year! It also has the highest cost for labor because it helps to reduce your billing. The average labor cost for installation for the four major types is:
- Electric: $300 – $1,500
- Propane: $300 – $2,500
- Gas: $300 – $2,500
- Solar: $2,000 – $3,000
Mind that these prices exclude tax credits and rebates.
Consider Converting Expenses
You should also take into account converting issues. You may install a tankless water heater and would like to replace a tank-storage unit. It also requires some money. On average, it costs from $800 to $3,500. We would like to provide you with various possibilities and issues that affect the converting expenses. These are as follows:
- If you remove an old tank water heater, it will cost about $75 – $500.
- A new electrical outlet costs something between $140 to $275.
- An attic or closet installation costs $75 – $150.
- The upgrade of the gas supply line is $350 – $750.
- The permit costs are about $25 – $250.
- If you want to replace a gas vent system, it will be something about $100 – $600.
- If you bring old plumbing up to code, it will cost approximately $75 – $500.
A tankless water heater has a number of advantages you should know about. Even if it is more expensive than a tank-storage unit, you may prefer it due to them. Make allowances for the next benefits:
- The common operating lifespan is 10-20 years. In the meanwhile, units with tanks can work for about 5-10 years only.
- The standard warranty is about 15 years, and some manufacturers offer a lifetime warranty because they are sure their devices will serve that long.
- A tankless water heater saves from $40 to $200 of energy expenses annually.
- If you install a new heater, it will take from 3 to 10 hours. In case you replace an old unit, it may take from 2 to 4 hours.
- This appliance is unlikely to explode.
- The appliance will hardly get damaged by water.
- The risk of getting water leaks is very low.
- It saves a lot of space and can be installed outside the house.
We guess these benefits are pretty convincing, aren’t they? If you want to buy and install a good tankless water heater, simply find a reliable store and installation service. You have a high chance to find a relatively cheap option.
As you can see, the price is pretty different due to various factors. It may be quite cheap, as well as very expensive. The installation cost should be taken into account as well. At times, a more expensive fuel type will become economically beneficial in the long run. Consequently, you should define and assess all the odds to define the best option for you and your budget.
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