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A tankless water heater costs about $2,316 to install, or between $1,196 and $3,446, but labor rates vary. Tankless model prices vary by brand, type and flow rate. The best way to budget for a new tankless water heater is to compare quotes from local contractors.
How much does it cost to switch to a tankless water heater?
But these devices don’t come cheap: the average cost of a tankless water heater, with installation, is approximately $3,000. The total cost depends on the model chosen and whether your home requires retrofitting.
Why is tankless water heater installation so expensive?
Installation is expensive because the unit needs a bigger gas supply than a conventional water heater does, and it needs to run its own exhaust flue to the exterior. Installation costs can vary widely, depending on the location of the flue and the gas supply. The unit itself costs between $800 and $1,000.
Is a tankless water heater worth the cost?
Energy Use and Efficiency Tankless: Gas and electric tankless water heaters run more efficiently than the conventional water heaters of the same fuel type. We rated the annual energy consumption cost Excellent for a gas model but only Fair for an electric, but both rate Very Good for energy efficiency.
Can you install tankless water heater yourself?
Installation. While it is possible to install your own tankless water heater, it’s not a job for inexperienced do-it-yourselfers. There are a number of different sizes and styles of tankless water heaters, including propane, natural gas and electric, along with single-room or whole-house sized models.
Does tankless water heater increase home value?
If you are looking to increase the value of your home, adding a tankless water heater to your features is a great place to start. According to a study conducted by Zillow, homes with tankless water heaters sold for 4% more than their expected value. On average, these homes also sold 43 days faster than expected.
Can I replace my tank water heater with a tankless?
Yes. The initial cost of converting your tank water heater to a tankless is expensive. Tankless water heaters are 3x more expensive than your average tank water heater. However, the energy savings and supply of endless hot water can outweigh the cost for many.
What size tankless water heater is needed for a family of 4?
What Size Tankless Water Heater Do I Need For A Family Of 2, 3, 4, 5, Or 6? Number Of Family Members: Gas Tankless Heater Size (GPM) Electric Tankless Heater Size (kW) What size tankless water heater do I need for a family of 3? 7-9 GPM 15-23 kW What size tankless water heater do I need for a family of 4? 8-10 GPM 20-28 kW.
What is the downside of an electric tankless water heater?
The main disadvantage of tankless water heaters is their upfront cost (unit and installation) is significantly higher than tank-style heaters. they take longer to deliver hot water. the water temperature is inconsistent when multiple outlets are on simultaneously. they cannot provide hot water during a power outage.
Are tankless water heaters loud?
Tankless water heaters will all make some noise when starting up and heating water, but the noise levels are usually reasonable and not cause for concern.
Do tankless water heaters have to be installed outside?
Yes – there are outdoor tankless water heater units that are made to withstand the elements BUT – it is recommended that electric tankless water heaters be provided with some form of shelter.
How long does it take to install a tankless water heater?
Additional time is required to install new power and water lines and air vents. Afterward, the tankless unit must also be mounted and connected. Tankless to Tankless Installation: This generally takes between one to three hours.
How long do tankless water heaters last?
Most tankless water heaters have a life expectancy of more than 20 years. They also have easily replaceable parts that may extend their life by many more years. In contrast, storage water heaters last 10–15 years. Tankless water heaters avoid the standby heat losses associated with storage water heaters.
Does a tankless water heater need a dedicated gas line?
Tankless water heaters provide hot water on-demand. Gas units require a gas line, adequate combustion air, a vent to remove combustion gas and an electrical outlet to power the unit. While they last longer than tank-style water heaters, they are more costly to install and often require upgrading your gas line.
What size breaker do I need for a tankless water heater?
A gas tankless water heater only needs a 15-amp, 120 volt dedicated single-pole breaker for this purpose.
How long does it take to recover the cost of a tankless water heater?
If the tankless system costs $2,200 installed, and saves $116 a year, it would take about 19 years to break even on the investment. If the new tankless system replaced an Energy-Star storage-tank heater (its operating costs are $360 a year), it would take about 25 years to break even.
What is the payback on a tankless water heater?
According to a study by Consumer Reports, the payback period for tankless water heaters can range from 12 years to 27.5 years, with electric models on the lower end of the spectrum and gas models on the upper end.
Should I switch to a tankless hot water heater?
The Pros of Switching to a Tankless Water Heater Avoid the risk of flooding due to a ruptured tank. Tankless water heaters consume less energy because they only need enough power to heat water as it’s needed. Tankless water heaters are more efficient and don’t experience standby heat loss.
Is it hard to switch to a tankless water heater?
Finally, installing a tankless water heater may not be as simple as swapping your old tank-style heater for a new one. Your home’s gas piping, gas meter and gas line may not be sized appropriately for a gas-fired tankless heater, for example. Or your electrical system may require an expensive capacity upgrade.
Can a tankless water heater leak?
A tankless water heater can develop leaks inside the heat exchanger. When this happens, the escaping water will put the system in danger of corrosion. A corroded water heater almost always needs to be replaced.
