Tankless water heaters cost up to three times more than storage heaters — from less than $1, 000 for an electric, whole-house model to $3, 000 for a gas-powered one, including installation by a qualified plumber. Rewiring your house can easily add as much as $5, 000 to the cost of installing a tankless water heater. Electric tankless water heaters also cost less to install than gas units. The installation costs for electric systems range from $800 to $1, 500, while installation for gas units cost between $1, 000 and $1, 500. Gas water heaters require venting to prevent the buildup of harmful gases inside the home. Tankless water heaters that run on electricity are the most affordable option for homeowners looking to retrofit their system. Tankless water heaters produce an endless supply of hot water, take up less space, have a lower risk of leaking, are safer, and have a significantly longer lifespan on average. The main disadvantage of tankless water heaters is their upfront cost (unit and installation) is significantly higher than tank-style heaters. Professional repairs are typically required, and those often run somewhere between $150 to over $800, though the average tends to hover around $600. Tankless water heaters require periodic flushing to keep mineral and sediment from building up inside the unit.
The U. S. Department of Energy estimates gas-fired tankless heaters save an average of $108 in energy costs per year over their traditional tank counterparts, while electric tankless heaters save $44 per year. Rewiring your house can easily add as much as $5, 000 to the cost of installing a tankless water heater.
Gas or Electric Electric tankless water heaters are cheaper than the gas versions. Installation is easier and less expensive, and they're generally not as difficult to maintain as gas models. Keep in mind, however, that most conventional gas tank water heaters were not installed with a tankless retrofit in mind.
Electric tankless units do not require any type of venting, however, they do require a substantial amount of electricity. Outdoor gas tankless water heaters do not require venting, however, they do require a minimum amount of space around the unit.
The tankless water heater generally comes by itself, and it's up to you to purchase all the necessary pipes and fittings, as well as have all the tools on hand. 4. You will need to know how to turn off the water to the current tank and drain it. Install the new type of vent that a tankless water heater requires.
Replacing with a tankless water heater doesn't require a permit or inspection. They may require a mechanical permit, gas piping permit and electrical permit depending on the local jurisdiction and what was required to install the new appliance.
You'll need to be able to heat at least 5. 2 gallons of water. So you'll need a tankless water heater that can produce at least a 60 degree rise in temperature at 5. 2 gallons per minute.
The Home Depot offers traditional water heater tanks and modern tankless units, both powered by either gas or electricity. Depending on your selection, the average cost for water heater installation is between $1, 000 to $3, 000.
Like, a hot water tank for 5 people will require at least a 60-gallon tank. Since tankless water heaters supply endless hot water, you don't have to worry about capacity, but instead, think in terms of water flow rate. Gallons Per Minute (GPM) is the key when it comes to sizing tankless water heaters.
Efficiency / Operating Cost: While gas tankless water heaters are certainly more efficient than their tank cousins, their efficiency usually peaks at 80-85%. Conversely, most electric tankless water heaters are 98+% efficient. On top of that, electric tankless water heaters cost much less than most tankless gas models.
According to Energy. gov, “For homes that use 41 gallons or less of hot water daily, demand (or tankless) water heaters can be 24% to 34% more energy efficient than conventional storage tank water heaters. ” Tankless water heaters (if gas-fired) will save homeowners over $100 annually the longer they remain in service.
Tankless water heater manufacturers recommend their units be flushed at least once a year to eliminate the buildup of calcium and other minerals within the unit -- even more often if you have hard water. Some units will indicate when the unit is in need of flushing.
Are Tankless Water Heaters Worth It? 10 Pros and Cons Pro #1: Instant Hot Water. Con #1: Inconsistent Temperatures. Pro #2: Longer Lifespan. Con #2: Higher Initial Cost. Pro #3: Lower Month-to-Month Costs. Con #3: Limited Hot Water Supply. Pro #4: Space Savings. Con #4: Additional Equipment is Often Necessary.