Electric Tankless Water Heater Cost To Run

Department of energy estimates that in homes using 41 gallons or less of hot water on demand tankless units can conserve between 24 to 34 more energy than tank water heaters.

Electric tankless water heater cost to run.

Tankless water heaters pros. Figuring out the annual operating cost of a water heater involves consideration of the heater s efficiency and the cost of the fuel needed to run it. A 50 gallon 5 500 watt water heater with a 90 ef and an electricity rate of 16 per kilowatt hour will cost 781 to operate each year. Most water heaters include a label listing the annual.

Quantity of water heaters to be purchased unit s 1 unit see assumptions for various daily water use totals. The nine models in our tests range from 525 to 1 150. Installing a tankless water heater is a greater upfront investment but these units can significantly cut the cost of monthly utilities. 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.

Tankless water heater cost. Compact tankless water heaters are small and compact. 0 92 electric 0 61 gas energy cost 0 06 per kwh 60 per therm. Maintenance both gas and electric water heaters are fairly easy to maintain.

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. Let s say you spend 2 000 to purchase and install a tankless water heater. The comparison assumes a storage tank water heater as the input type. Going by the examples given above where the electric heater costs 438 in fuel vs.

224 for gas you would save 214 per year using gas although the exact numbers you see would depend. Gas and electric tankless water heaters run more. Tankless water heaters tend to cost more up front than storage tank models. So regardless of the type of tankless water heater you have you ll be out of hot water in the event of a power outage.

This makes the total cost for a 40 gallon electric hot water heater between 1000 and 1 700 with the total costs of a 40 gallon gas hot water heater between 1 400 and 2 800. Generally speaking a gas water heater will cost less per month than an electric model since natural gas prices tend to be lower than the cost of electricity.