Electric Tankless Water Heater Cost Savings

Plus it s a great value with a 5 year heat.

Electric tankless water heater cost savings.

We rated the annual energy consumption cost excellent for a gas. Most tankless water heaters have a life expectancy of more than 20 years. What s more you will even reveal how many trees your tankless water heater will save by simply reducing your carbon footprint. Gas and electric tankless water heaters run more efficiently than the conventional water heaters of the same fuel type.

Tankless water heaters cost around 2 3 times more than traditional storage tanks. The average cost for a tankless water heater installation is 1 985 or between 1 470 2 510 if your home needs to be rewired it can easily add 3 000 or more to the cost of installing a tankless water heater. Compact tankless water heaters are small and compact. Your selection of a water heater using gallon s per day will have a energy cost savings per water heater over an estimated 13 year life expectancy compared to the model.

Rheem performance tankless electric point of use water heaters help rheem performance tankless electric point of use water heaters help reduce energy usage save on energy costs and are small so they will be a perfect match for installations under a cabinet or sink in your home office boat or rv. Tankless water heater cost. They fit into tight spaces such as underneath the sink or in a closet. Assumptions base model has an efficiency that just meets the national minimum standard for gas and electric water heaters.

The initial cost of a tankless water heater is greater than that of a conventional storage water heater but tankless water heaters will typically last longer and have lower operating and energy costs which could offset its higher purchase price. If your annual savings are 100 it would take 20 years the approximate lifespan of a tankless water heater to recoup the cost in energy savings. According to home depot it costs between 2 044 to 5 898 with the average being 2 979 to have a tankless water heater installed accounting for the heater installation materials any. According to angie s list the average price of a premium tankless water heater is about 1063 with installation a full 8 10 hours by a professional plumber.

Tankless water heaters pros. But before you replace your existing electric water heater with one you should look at the one time installation costs annual maintenance and the monthly cost of electricity. There is a myth that the upfront cost of tankless water heater is almost double than traditional water heater due using luxury high end technology.