Electric Tankless Water Heater Cost Per Year

The comparison assumes a storage tank water heater as the input type.

Electric tankless water heater cost per year.

A central tankless water heater providing hot water for an entire house can cost 800 3 000 or more depending on gpm capacity and whether it s gas or electric plus features like a safety temperature lock or a remote control. By using tankless water heater you can save 96 200 per year based on usage types and capacity of the heater. If plumbing or electrical work is needed installation can add 100 200 making total costs 220 550. To heat this water they spend around 400 600 per year.

For example the rheem tankless electric rte 27 1 with a maximum 5 0 gpm and a 10 year warranty costs about 625 750. Quantity of water heaters to be purchased unit s 1 unit see assumptions for various daily water use totals. A central tankless water heater providing hot water for an entire house can cost 800 3 000 or more without installation depending on gallons per minute capacity and the unit s energy efficiency rating. But these devices don t come cheap.

Average daily usage gallons per day gallons. 64 energy factor 0 92 electric 0 61 gas energy cost 0 06 per kwh 60 per therm. Let s say you spend 2 000 to purchase and install a tankless water heater. 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.

The efficiency of tankless water heater over storage type heaters is 24 34. A tankless water heater is one way to ensure that you never again experience any unexpected cold showers.