What are the Top 5 Cost Considerations for Hot Water Heaters?

Heating water accounts for over 20% of the average household's energy costs each year, making hot water heater costs an important consideration for budget-conscious homeowners. Finding a balance between energy efficiency, cost, and hot water capacity is an important factor when selecting the best hot water heater for your home. Homeowners in Austin, Texas, zip code 78744 have a variety of considerations when it comes to hot water heater cost including installation and energy efficiency.

1. Types of Hot Water Heaters

The first cost consideration for hot water heaters relates to the type of system you'll opt for. Standard tank water heaters, also referred to as storage water heaters, are the most popular choice for residential properties. They come in both electric and gas models. These tank water heaters offer an affordable initial purchase and cheap installation cost as they are usually cheaper than hybrid, on-demand, and tankless water heater models.

2. Tankless Water Heaters

Tankless water heaters, also known as on-demand water heaters, are more efficient than their tank counterparts, as they heat the water only when it is needed. They don't require a tank to hold the hot water, making them more space efficient for smaller areas. The initial purchase cost of a tankless water heater is typically higher than that of a standard water heater, as they are more energy efficient.

3. Hot Water Heater Installation Costs

Installing the water heater is one more cost to consider. Installing a standard tank water heater costs more than a tankless unit, while a professional install for a tankless water heater can cost up to 50% more than that of a standard model. Depending on the make and model, the cost of the install can be included in the purchase price, in which case it is recommended to buy a unit and have it professionally installed.

4. Energy Efficiency

Another cost consideration for hot water heaters is the energy efficiency of the unit. Tankless water heaters are more energy efficient than their standard tank counterparts. Most tank models are rated at 5% to 10% efficiency, while the efficiency of tankless models can range from 15% to 25% or higher. This means that tankless water heaters will save you money in the long run by using less energy to heat the same amount of hot water.

5. Size and Capacity

The size and capacity of the hot water heater is another cost consideration. A larger water heater will require more energy to heat the same amount of water, but it will also provide more hot water. Depending on the size of the home, a larger water heater may be required. Additionally, larger homes may require a more powerful system for hot water needs.

Final Word

Hot water heater costs can vary greatly depending on the type of unit, size, and features. Factors such as installation, energy efficiency, and size/capacity will all increase or decrease the price point of any hot water heater. Homeowners in Austin, Texas should make sure to consider all cost factors when selecting the best hot water heater for their needs.

Hot Water Heaters

Installation

Energy Efficiency