How Much Does It Cost To Install A Tankless Water Heater
The popularity of tankless water heaters has gone through the roof due to their energy efficiency and operating costs in recent years. You may be wondering – is one in the budget for your home?
The cost of tankless water heaters depends upon their model; electric tankless water heaters cost within the range of $170-$800, while gas tankless water heaters come within the range of $230-$2300.
Below, we discuss the price of installing a tankless water heater along with factors affecting the overall budget.
Advantages of Installing a Tankless Water Heaters
Before we start discussing the cost of installing a tankless water heater, let us analyze the benefits of using a tankless water heater at home:
Great Source of Hot Water
Conventional water heaters take a long time to reach a certain level of temperature for heating up the water. However, this isn’t the case with modern water heaters as they take only a few seconds to heat and provide hot water to the users instantaneously.
Though tankless water heaters come with a high price, they offer a long-term warranty for their services. On an average basis, a tankless water heater can last for about 20 years or more. Therefore, if you are looking to get a water heater for long-term purposes, then go for the latest tankless water heaters rather than traditional water heaters.
Easy to Repair
In case a traditional tank water heater gets damaged, one is required to replace the entire unit. With tankless water heaters, one can easily replace the defective component of the unit without replacing the entire unit.
Reduces Utility Bill
If you have employed any fuel-efficient tankless water heater in your home, then you can also reduce your utility bills over a period of time. This feature makes the latest tankless water heaters a better option when compared with traditional water heaters.
Takes Up Less Space
Traditional tank water heaters take up a lot of space in the storage room, while tankless water heaters don’t take up that much space in the household, which is why these tankless water heaters are often preferred by people with small home.
Factors Affecting the Price of Installing a Tankless Water Heater
There are many factors that primarily affect the price of a tankless water heater installation in places like Darnestown, MD. We break down each one below so you can prioritize your budget about what needs you have.
It goes without saying that branding plays an important role in determining the price of any product. Tankless water heater from reputed and exclusive brands comes at a high cost; therefore, you may have to incur a high price if you go for installing a tankless water heater from a reputed water heater services company in your home. Though the average cost of a tankless water heater is $800, its price can go as high as $2,300.
The pricing of a water heater also depends upon its fuel source. Electric water heaters often come with a low upfront cost, while the price increases if you aim for an energy-efficient water heater for your home. Though solar-powered tankless water heaters come with a high cost, however, they can reduce your energy bills over a long period of time. An electric tankless water heater usually comes within the range of $500–$1,500, propane-sourced tankless water heater comes within the range of $500–$2,000, natural gas-sourced tankless water heaters are in the range of $750–$2,000, and solar-powered tankless water heater comes within the range of $1,500–$4,000.
Labor and Installation
On the basis of your location, you can be asked to pay around $50–$150 per hour for the technician. Generally, it takes around two to eight hours to install a tankless water heater in any house, depending on the type and fuel source of the heater. Therefore, the cost of installing a water heater in your house can go up if the technician takes long hours to complete the installation process.
Size plays a major role in making up the bill for tankless water heater installation. The larger water heater draws higher charges for installation when compared to the smaller ones.
Type of System
Whole-house tankless water heaters cost more than a point-of-service unit, though you may incur additional costs if you want to add single-point units to your water heater services. Similarly, condensing tankless water heaters provide more heat to the water by utilizing a second heat exchanger. Usually, condensing units are priced higher than non-condensing units in the market. In case an additional heat exchanger is used in the system, it increases the cost of a condensing tankless water heater.
Gallons per Minute
The cost of a tankless hot water heater is also affected by its flow rate. The higher the capacity of a tankless water heater, the higher number of items that are needed for its operation. A water tanker with a higher flow rate is generally required for a big household; therefore, one may have to incur a higher price if one needs a tanker with a higher flow rate for its household.
In some places, tax credits are available for buying a tankless water heater. As per the beneficial provisions of the Inflation Reduction Act of 2022, one may get back 30% of its project cost or $600 on the purchase of a gas-powered certified tankless water heater. This tax credit can substantially decrease the initial costs of setting up a tankless water heater in your house.
Tankless water heaters require maintenance on an annual basis, which increases the overall expenses of operating a tankless water heater. A plumber generally undertakes the maintenance work for a tankless water heater for $45 to $200 per visit. As usual, this cost will differ from location to location. Sometimes your local water company can help set up an annual price you can budget for.
Price for Installing a Tankless Water Heater
The overall costs for availing water heater services in Highland or Darnestown would depend on a variety of factors, such as labor rates, nature of the water heater, tax credits, water heater company, flow rate, and a lot more. Nonetheless, tankless water heater installation could come approximately within the range of $170-$2300. Of course, the actual cost may differ depending on the aforementioned factors. Reach out to our experts today for an estimation and learn all the benefits you could reap.