Electric Tankless Water Heater Cost Savings

Comparatively electric storage water tanks average 750 and will take a professional two to three hours to install it.

Electric tankless water heater cost savings.

Let s say you spend 2 000 to purchase and install a tankless water heater. Our model 3 water heater retails for 899. Most water heaters include a label listing the annual. Using a natural gas rate of 10 86 per 1 000 cubic feet we calculated that.

We factored in an installation cost of 1 250 for a gas tankless and slightly less 1 150 for an electric. 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. 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. The cost of an electric tankless water heater starts around 1000 for a whole house unit whereas the traditional hot water tank usually runs in the mid to upper hundreds.

This does not include the cost of installation. By heating water instantaneously and only when you need it you and your family members can enjoy continuous uninterrupted hot water at the same time along with savings over a conventional tank. Electric water heater operation costs. According to energystar gov a tankless water heater is probably going to save you at most 1 800 over the life of the system.

If the extra costs of installing a tankless system are going to. According to angie s list the average electric tankless water heater costs 1 063 for the unit and a full eight to 10 hours to install. With no need to vent the installation work is not as complicated. You can achieve even greater energy savings of 27 50 if you install a demand water heater at each hot water outlet.

Electric tankless water heater costs less expensive than gas electric models cost an average of 800 to 1 600 to install. Tankless water heaters will cut up to 40 off your monthly energy bill. Electric models run consistently produce high energy ratings and are easier to maintain than gas. Now see the difference for yourself.