As a professional in the field of home improvement and energy efficiency, I've been involved in numerous projects where tankless water heaters have been a key component. When it comes to the average cost of a tankless water heater, it's a topic that many homeowners are curious about, especially considering the energy savings and convenience these units offer.

Tankless water heaters, also known as on-demand water heaters, are designed to heat water instantaneously rather than storing heated water in a tank. This can lead to significant energy savings over time, as they only use energy when hot water is needed. However, the initial cost can be a concern for some.

The cost of a tankless water heater can vary widely depending on several factors, including the type of fuel it uses (electric or gas), the size of the unit, the brand, and the installation costs. Generally, electric tankless water heaters are less expensive than their gas counterparts. For instance, a whole-house electric model can start at less than $1,000, while a gas-powered one may cost up to $3,000, including professional installation by a qualified plumber.

It's important to note that the installation process can also add to the overall cost. In some cases, rewiring the house may be necessary to accommodate the increased electrical demand that a tankless water heater requires, which can easily add as much as $5,000 to the cost. This is particularly true for electric models, as they draw a significant amount of power.

Another factor to consider is the size of the unit. Larger units, which can supply hot water to multiple fixtures simultaneously, tend to be more expensive. However, they are also more efficient and can provide a better return on investment over time.

When evaluating the cost of a tankless water heater, it's also crucial to consider the potential savings on energy bills. While the upfront cost may be higher, the long-term savings can offset the initial investment. Additionally, some utility companies offer rebates or incentives for installing energy-efficient appliances like tankless water heaters, which can help reduce the overall cost.

In conclusion, the average cost of a tankless water heater can range from less than $1,000 for an electric model to $3,000 for a gas-powered one, including installation. Additional costs may arise from rewiring or other modifications needed to accommodate the new system. It's essential to weigh these costs against the potential energy savings and the long-term benefits of having a more efficient water heating system.

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Tankless water heaters cost up to three times more than storage heaters -- from less than $1,000 for an electric, whole-house model to $3,000 for a gas-powered one, including installation by a qualified plumber. Rewiring your house can easily add as much as $5,000 to the cost of installing a tankless water heater.Dec 12, 2016read more >>