Gas and Electric Water Heaters: How to Calculate Tankless Water Heater Cost

Water heaters are the foundation of most households and businesses in Austin-Texas. Many of the standard tank-based water heaters are being replaced with tankless water heater technology. Although tankless water heaters are more expensive upfront, they save money in the long run. So how do you figure out how much these efficient water heaters cost?

In this article we will go over the cost of tankless water heating systems, and provide you with the incentives, tools and factors to consider when deciding whether to replace existing tank-based water heaters with tankless models.

The Advantages of Tankless Water Heaters

Tankless water heaters are more efficient than tank-based water heaters, since they are able to heat up water on demand without the need to store heated water. This translates to reduced energy costs, and, often, fewer repairs.

In addition, tankless water heaters are designed to last longer than traditional tank-based water heaters. Many tankless models may outlive their tank-based counterparts by up to 10 years. This means fewer replacements and, again, reduced costs.

Calculating Tankless Water Heater Cost

The cost to buy and install a tankless water heater is going to vary, depending on the type, size, and manufacturer. But generally, a tankless water heater is going to cost more than a comparable tank-style model. This is because tankless water heaters use more sophisticated technology, coupled with higher-quality materials.

However, as mentioned earlier, the actual cost over time may be lower than that of tank-style water heaters. This is due to lower energy costs and fewer repairs.

Factors to Consider

When shopping for a tankless water heater, consider the following:

Size: Tankless water heaters come in different sizes, determined by the number of bathrooms and appliances that require hot water. Choose a size that meets your needs.

Cost: The cost of tankless water heaters varies significantly, depending on the size, type, and brand. It’s also important to factor in installation costs when calculating the total cost of a tankless water heater.

Incentives: There may be state or federal incentive programs available in your area that provide financial compensation for switching to energy-efficient appliances, including tankless water heaters.

Maintenance: Because tankless water heaters have more complex design, routine maintenance is key to maintaining their efficiency and long-term cost savings. Consider this when calculating the overall cost of ownership.

To conclude

Tankless water heaters are becoming increasingly popular within the residential and commercial markets. Although the upfront cost will be higher than a tank-style model, tankless water heaters save money in the long run through lower energy bills and fewer maintenance costs. When calculating the total cost, consider size, cost, incentives, and maintenance.

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