Tankless Gas Water Heater Cost Savings

This rheem performance platinum high efficiency tankless water this rheem performance platinum high efficiency tankless water heater provides estimated energy cost savings of more than 1 100 over 12 years.

Tankless gas water heater cost savings.

The average cost for a tankless water heater installation is 1 985 or between 1 470 2 510 if your home needs to be rewired it can easily add 3 000 or more to the cost of installing a tankless water heater. Tankless water heaters pros. What s more you will even reveal how many trees your tankless water heater will save by simply reducing your carbon footprint. Often they can be mounted to the wall.

Your savings report will reveal your energy cost per therm energy factor annual energy in therms co2 emissions in pounds and your annual energy cost in your area both before and after tankless. It s energy star certified and with a 0 93 uef qualifies for many rebates and incentives. According to angie s list the average price of a premium tankless water heater is about 1063 with installation a full 8 10 hours by a professional plumber. There is a myth that the upfront cost of tankless water heater is almost double than traditional water heater due using luxury high end technology.

We rated the annual energy consumption cost excellent for a gas. April 13 2020 tankless gas water heaters last longer than tanked heaters provide on demand hot water whenever you want it for as long as you want it and will save you a nice chunk of change every month most reviewers report 30 40 reductions in their energy bills these devices are a worthwhile investment based on their convenience alone. The primary advantages of gas tankless water heaters are energy savings space savings and continuous hot water. The initial cost of a tankless water heater is greater than that of a conventional storage water heater but tankless water heaters will typically last longer and have lower operating and energy costs which could offset its higher purchase price.

However this initial investment is often paid back within the life of the unit due to the energy savings. 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. Gas and electric tankless water heaters run more efficiently than the conventional water heaters of the same fuel type. They fit into tight spaces such as underneath the sink or in a closet.

Tankless water heaters cost around 2 3 times more than traditional storage tanks. According to home depot it costs between 2 044 to 5 898 with the average being 2 979 to have a tankless water heater installed accounting for the heater installation materials any. Compact tankless water heaters are small and compact.