Tankless Water Heater Cost Calculator and Estimator
Tankless Water Heater Cost
Tankless water heaters work by heating water as needed. The system uses a gas burner or electricity to heat the water pipe, supplying water on demand. They tend to have better energy savings than tank water heaters, as tankless water heaters feature an efficiency factor (EF) of .92%–.94%. In other words, they effectively convert 92%–94% of its energy to heated water.
Like a hot water storage tank, a tankless unit can be stored in a basement or utility closet. Smaller than a tank unit, tankless heaters can also be mounted to a bathroom or bedroom wall.
Tankless water heaters have a higher initial cost compared to tank heaters, costing homeowners between $1,400–$3,800. The higher cost is a result of a more labor-intensive set-up, as new gas and water lines are required for installation.
Tankless Water Heater Costs by Fueling Method
The average cost of a tankless water heater varies by fuel type. Most consumers go with either electric or gas (natural gas or propane). Electric models are the least expensive to purchase. Gas-powered units are slightly more expensive upfront, but cheaper to operate monthly and more powerful. In markets where heating oil is popular, consumers may find it a better option. Those seeking an off-grid option may prefer to go solar.
- Electric: $550 to $1,700
- Natural gas or propane: $600 to $2,300
- Oil: $650 to $3,700
- Solar: $1,300 to $4,500
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Process To Get Tankless Water Heater Installation Cost Estimate Report
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