The Cost of a Tankless Water Heater: What You Should Consider

Having a reliable hot water supply for your home or office is not just a luxury but an essential. When your water heater breaks down or you need to upgrade it, you may consider getting a tankless water heater. Tankless water heaters are relatively expensive compared to traditional water heaters, and so far down the road, the lifetime cost savings may work in your favor. If you live in a 78751, Austin - Texas area and need to replace your water heater, here's what you should know about the cost of installing a tankless water heater.

Upfront Cost of a Tankless Water Heater

The cost of a tankless water heater will depend on factors such as the type of tankless water heater and the brand, size, energy efficiency, and quality of accessories needed. They can cost anywhere from a few hundred dollars up to a few thousand dollars. On average, electric tankless water heaters cost between $600 and $800, while gas tankless water heaters cost between $800 and $1600. Furthermore, installation can add an additional cost of up to $1500.

Long-term Savings

Despite the high upfront cost of a tankless water heater, the long-term savings can offset the high price. Tankless water heaters are energy-efficient and can be up to 34% more efficient than traditional water heaters. Tankless water heaters also last much longer and require less maintenance and repairs. On average, gas tankless water heaters can last 20 years or more, while electric tankless water heaters can last 10 years or more.

Maintenance Cost

While tankless water heaters require less maintenance than traditional water heaters, they should still be serviced annually to keep them in optimal condition. Abacus residential and commercial plumbers are equipped with the necessary skills and tools to assess the system and make necessary repairs.

Size and Type

When choosing a tankless water heater, the size and type you choose will affect your cost, as well as your long-term savings. Natural gas tankless water heaters are more expensive than electric, but less costly to operate. If possible, investing in a larger tankless water heater will ensure an adequate hot water supply for your home or office with the lowest energy cost.

Rebates and Tax Deduction

When considering the cost of a tankless water heater, it's important to factor in possible rebates and tax deductions. Many utility companies offer rebates for energy-efficient water heaters. The US government also offers tax deductions for water heaters purchased in 2009 and 2010. These incentives can be used to offset the cost of the tankless water heater.

The main takeaway

Although tankless water heaters are expensive upfront, their lifetime cost savings may make them the better option for reliable hot water for a busy family or office. When selecting a tankless water heater, consider the size and type, the energy efficiency, and any rebates and tax deductions available. Additionally, it's important to have your tankless water heater serviced regularly by a qualified plumber for optimal performance.

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