Electric Tankless Water Heater Cost Savings

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.

Electric tankless water heater cost 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. Electric tankless water heater costs less expensive than gas electric models cost an average of 800 to 1 600 to install. Department of energy estimation gas tankless water heater can save an average 108 and electric tankless can save 44 annually. To heat this water they spend around 400 600 per year.

Tankless water heaters generally cost more than a typical 40 gallon water heater but usually have longer warranties last longer 20 years compared to 10 15 years for tank water heaters and. Rheem performance tankless electric point of use water heaters help rheem performance tankless electric point of use water heaters help reduce energy usage save on energy costs and are small so they will be a perfect match for installations under a cabinet or sink in your home office boat or rv. For the average family the energy savings from switching to tankless amount to about 70 to 120 per year. Let s say you spend 2 000 to purchase and install a tankless water heater.

Plus it s a great value with a 5 year heat. As per estimation by energy gov average water use per day per household is about 64 gallons. Our model 3 water heater retails for 899. With no need to vent the installation work is not as complicated.