Tankless water heaters are great as they save energy and water, cutting down the bills from the first month. However, some models are more affordable than others. And the type of tankless water heater you decide to install also plays a big part, since some include complicated installation.
Just to give you an idea, gas models require venting, in which case you may have to hire a professional plumber for installation. The installation costs will increase the initial investment for the tankless water heater.
Page Table of Contents
- What prices should you expect?
- What about the installation costs?
- How much will you pay for a gas tankless water heater?
- Will you pay less for an electric unit?
- Are indoor models more expansive than the outdoor models?
- Is there anything else to add to costs?
- Do you want the extra features?
- Are the installation costs high?
- Instead of a conclusion
What prices should you expect?
Even if the variety of models is generous, at the end of the day, tankless water heaters come in two main categories: the electric and gas-fired models.
Electric tankless water heater prices start at $125, with models for whole-house use costing around $1,000.
It’s quite the same for the gas unit, but durable and more performant models are around $500, getting as high as $2,000.
What about the installation costs?
Since electric tankless water heaters don’t require venting, it’s natural that you will pay less for installation. It’s going to be somewhere between $150 and $700. As for a gas unit, you need to prepare at least $600 for the installation. Should the home require many changes, you may pay even $1,500 for installing the gas tankless water heater.
Many models are made for DIY installation, but you should only do it if you have the skills. Give the user manual a good read as you may void the warranty when not installing the unit by a professional plumber.
How much will you pay for a gas tankless water heater?
The gas-fired models come in plenty of sizes, and here are some prices you should expect when shopping. The power (BTUs) of gas models impacts the final price:
- 120K-140K BTUs- $500-$1,200
- 160K BTUs- $750- $1,600
- 180K BTUs- $900-$1,900
- 190K-199K BTUs- $1,000-$2,200
Will you pay less for an electric unit?
The quality of the heating elements plays a big part in the final price of an electric tankless water heater. Still, it’s the power you need to use as a criterion when choosing your electrical unit.
Here’s a general guidance on prices:
- Less than 6kW- $100-$235
- 6-8kW- $175-$250
- 10-12kW- $175-250
- 15-18kW- $365-$550
- 21-24kW- $400-$635
- 27-30kW- $425-$715
- 32-36kW- $435-$800
Are indoor models more expansive than the outdoor models?
We should remind you that it’s only the gas-fired models that can be installed indoor or outdoor.
It makes perfect sense that the indoor units will cost more as they need fittings for connecting to a vent. More often than not, you will pay $25 to $75 more for an indoor model. The costs for installation will be higher, for the same reasons.
Is there anything else to add to costs?
For better efficiency, you should consider installing a recirculating pump for a whole-house gas model. The pump will maintain the water hot in the line between the pump and the fixture.
Recirculating pumps range from $300 to $500 and don’t forget to add the costs for installation. Even if you may be tempted not to get one, you should do your bits and bobs and find out about the importance of recirculating pumps.
Do you want the extra features?
The more modern features you want on your tankless water heater, the more you should be willing to pay. The market gives you models with Wi-Fi ability, wall thermostats, and wireless remotes, so be ready to open your wallet big if you want them in the tankless water heater.
Are the installation costs high?
Even if tankless water heaters are energy effective, saving you thousands of gallons of water in a year and plenty of dollars on your utility bill, they do pose critical financial matters to consider when deciding.
Unless you’re a DIY-frenzy or a professional plumber, you shouldn’t try to install the tankless water heater on your own.
Here are the installation costs (the range) for the most common types of tankless water heaters:
- Electric model, 110V- $150-$300. You pay $250-$500 for electric 110v plus outlet
- Electric model, 220V-$300-$600, and $500-$750 for electric 220V plus outlet
- Gas indoor models- $600-$1,000m and $900-$1,500 for gas and indoor vent
The complexity of the installation affects the final price. For instance, the installation in a crawlspace, attic, or difficult to access areas, the price for the mount will be higher.
Where you live may also affect the price, as some areas of living are pricier than others. The number of professional plumbers in your region can also have a toll on the price, with you paying more when there aren’t many professionals around.
Instead of a conclusion
Tankless water heaters come with ups and downs, and you should give it a good thought when deciding. All the costs we’ve talked about are essential, but a tankless water heater may be the best solution for your household.