Looking to upgrade your water heater to a more efficient and cost-effective option? Wondering how much it would cost to install a tankless water heater in your home? You’ve come to the right place!
In this article, we will explore the average cost of purchasing and installing a tankless water heater, along with any additional expenses or factors that can affect the overall installation cost. Whether you’re looking to save money on energy bills or simply want a continuous supply of hot water, we’ve got you covered. So, let’s dive in and discover the average cost of tankless water heater installation!
What is a tankless water heater?
A tankless water heater, also known as an on-demand water heater, is a type of water heating system that heats water directly as it flows through the unit. Unlike traditional water heaters that store and heat a large amount of water in a tank, tankless water heaters provide hot water on demand, eliminating the need for a storage tank.
Average cost of purchasing a tankless water heater
The cost of purchasing a tankless water heater can vary depending on factors such as brand, capacity, and features. On average, a residential tankless water heater can cost between $500 and $2,500.– Tankless water heaters heat water directly as it flows through the unit, eliminating the need for a storage tank.
– They are more energy-efficient, space-saving, and have a longer lifespan compared to traditional water heaters.
– Factors to consider before installing include flow rate requirements, fuel type, installation location, upfront cost, and maintenance requirements.
– The average cost of purchasing a tankless water heater ranges from $500 to $2,500.
Benefits of Installing a Tankless Water Heater
Installing a tankless water heater in your home comes with several benefits that make it a popular choice among homeowners. Here are some advantages of choosing a tankless water heater:
1. Energy Efficiency: Tankless water heaters are known for their energy efficiency. Unlike traditional water heaters that continuously heat and store water, tankless models only heat water on demand. This means they consume less energy, resulting in lower utility bills and reduced environmental impact.
2. Endless Hot Water Supply: With a tankless water heater, you never have to worry about running out of hot water. These units provide a continuous supply of hot water as long as there is a demand. This is especially beneficial for larger households or homes with multiple bathrooms, where hot water usage is high.
3. Space-saving Design: Tankless water heaters are compact and wall-mounted, saving valuable space in your home. Unlike traditional water heaters that require a large storage tank, tankless models can be installed in smaller areas, such as utility closets or even outdoors.
4. Longer Lifespan: Tankless water heaters have a longer lifespan compared to traditional water heaters. On average, tankless models can last up to 20 years, while traditional units typically last around 10-15 years. This longer lifespan can result in cost savings in the long run.
5. Reduced Risk of Water Damage: Traditional water heaters with storage tanks are prone to leaks and ruptures, which can cause significant water damage to your home. Tankless water heaters eliminate this risk as they do not store water, reducing the chances of leaks and potential water damage.
6. Improved Water Quality: Tankless water heaters heat water directly as it passes through the unit, eliminating the risk of water sitting in a storage tank and accumulating sediments or rust. This results in cleaner and fresher hot water for your daily needs.
Factors to Consider Before Installing a Tankless Water Heater
When considering the installation of a tankless water heater, there are several factors that you should take into account. These factors can affect the overall cost and efficiency of the system. Here are some important considerations:
1. Size and Capacity
Tankless water heaters come in various sizes and capacities. The size you choose will depend on the hot water demands of your household. Larger homes with multiple bathrooms and appliances may require a higher capacity unit, which can increase the cost.
2. Fuel Type
Tankless water heaters can be powered by electricity, natural gas, or propane. The fuel type you choose will impact both the installation cost and the long-term operating expenses. Gas-powered units tend to have a higher upfront cost but may be more cost-effective in the long run.
3. Venting Requirements
Gas-powered tankless water heaters require proper venting to ensure the safe release of combustion gases. The venting system needs to comply with local building codes, and the installation of the venting system can add to the overall cost.
4. Existing Plumbing System
The condition of your existing plumbing system can also affect the cost of installation. If your plumbing system needs upgrades or modifications to accommodate the tankless water heater, additional expenses may be incurred.
5. Location of Installation
The location where you plan to install the tankless water heater can impact the installation cost. If the unit needs to be installed in a hard-to-reach area or if extensive plumbing work is required, the installation cost may be higher.
6. Additional Features
Some tankless water heaters come with additional features such as remote controls, Wi-Fi connectivity, or advanced temperature control settings. These features can increase the cost of the unit.
It is important to consider these factors before installing a tankless water heater to ensure that you choose the right unit for your needs and budget. Consulting with a professional plumber or contractor can help you determine the most suitable options and provide an accurate estimate of the installation cost.
Average Cost of Purchasing a Tankless Water Heater
When it comes to purchasing a tankless water heater, the average cost can vary depending on several factors. These factors include the brand, model, size, and features of the unit. Additionally, the cost may also be influenced by the region and the specific retailer you choose to purchase from.
On average, the cost of a tankless water heater can range from $500 to $2,500. However, it’s important to note that this is just the initial purchase cost and does not include installation expenses.
To give you a better idea, here is a breakdown of the average cost based on the type of tankless water heater:
1. Electric Tankless Water Heater: The average cost for an electric tankless water heater is around $500 to $1,500.
2. Gas Tankless Water Heater: Gas-powered tankless water heaters tend to be more expensive, with an average cost ranging from $1,000 to $2,500.
It’s worth mentioning that while gas tankless water heaters may have a higher upfront cost, they often provide greater energy efficiency and cost savings in the long run.
When purchasing a tankless water heater, it’s essential to consider your household’s hot water needs and select a unit that can meet those requirements efficiently.
To assist you further, here is a graph & table comparing the average cost of tankless water heaters based on their capacity:
Water Heater Cost Chart
|Capacity||Average Cost (Electric)||Average Cost (Gas)|
|Up to 2.5 GPM||$500 – $800||$1,000 – $1,500|
|2.5 – 5 GPM||$800 – $1,200||$1,500 – $2,000|
|Above 5 GPM||$1,200 – $1,500||$2,000 – $2,500|
Keep in mind that these prices are approximate and can vary depending on various factors. It’s always recommended to compare prices from different retailers and consider any ongoing promotions or discounts that may be available.
Additional Expenses to Consider
When installing a tankless water heater, there are several additional expenses that you should take into account. The cost of these expenses depends on factors such as the unit you choose, the installation complexity, and any upgrades or modifications required for your home’s plumbing system. Here are some common additional expenses to consider:
1. Venting: Tankless water heaters require proper venting to remove exhaust gases. If your home does not already have the necessary venting in place, you may need to hire a professional to install it. The cost of venting can range from $500 to $2,000, depending on the complexity of the installation.
2. Electrical upgrades: Some tankless water heaters require a dedicated electrical circuit. If your home’s electrical system does not meet the requirements, you may need to hire an electrician to make the necessary upgrades. This can cost anywhere from $500 to $1,500, depending on the extent of the work needed.
3. Water and gas line modifications: Depending on the location of your current water heater and the requirements of the tankless unit, you may need to make modifications to your water and gas lines. This can involve rerouting pipes or installing new ones, which can add to the overall cost of installation.
4. Permits and inspections: Before installing a tankless water heater, you may need to obtain permits from your local building department. These permits typically come with a fee, which can range from $50 to $500. Additionally, some areas require inspections after the installation is complete, which may incur additional costs.
5. Maintenance and servicing: While tankless water heaters generally require less maintenance than traditional tank-style heaters, they still need periodic servicing to ensure optimal performance. This can include flushing the system, checking for leaks, and inspecting the heating elements. The cost of maintenance and servicing can vary, but it is recommended to budget around $100 to $200 per year.
It’s important to factor in these additional expenses when budgeting for the installation of a tankless water heater. By considering all the costs involved, you can make an informed decision and avoid any unexpected financial surprises.
In conclusion, tankless water heaters offer a cost-effective and efficient solution for homeowners seeking to upgrade their hot water systems. By carefully considering the factors involved and exploring potential savings through rebates, installing a tankless water heater can provide long-term benefits for both your wallet and the environment.
|FAQ 1: How long does a tankless water heater last?|
|Tankless water heaters are known for their durability and longevity. On average, a well-maintained tankless water heater can last up to 20 years or more. This is significantly longer than traditional tank water heaters, which typically last around 10-15 years. Regular maintenance, such as flushing the system and checking for mineral buildup, can help extend the lifespan of a tankless water heater.|
|FAQ 2: Are tankless water heaters energy-efficient?|
|Yes, tankless water heaters are highly energy-efficient. Unlike traditional tank water heaters that constantly heat and store water, tankless models only heat water as it is needed. This on-demand heating process eliminates the energy wasted on keeping a large tank of water hot at all times. As a result, tankless water heaters can help reduce energy consumption and lower utility bills.|
|FAQ 3: Can I install a tankless water heater myself?|
|While it is possible to install a tankless water heater yourself, it is generally recommended to hire a professional for installation. Tankless water heaters require specialized knowledge and skills to ensure proper installation and safe operation. Professional installers have the expertise to handle electrical and plumbing connections, as well as any necessary venting or gas line modifications.|
|FAQ 4: How much space does a tankless water heater require?|
|One of the advantages of tankless water heaters is their compact size. Unlike traditional tank water heaters that take up a significant amount of space, tankless models are much smaller and can be mounted on a wall. The exact space requirements may vary depending on the model and manufacturer, but generally, tankless water heaters take up significantly less space than their tank counterparts.|
|FAQ 5: Are tankless water heaters eligible for any rebates or incentives?|
|Yes, in many cases, tankless water heaters are eligible for rebates and incentives. These incentives are often offered by utility companies or government programs to encourage energy-efficient upgrades. The availability and amount of rebates can vary depending on location and specific criteria. It is recommended to check with local utility companies or government agencies to determine if any rebates or incentives are available for installing a tankless water heater.|