Electric Tankless Water Heater Cost Per Year

The efficiency of tankless water heater over storage type heaters is 24 34.

Electric tankless water heater cost per year.

15 ways to save on your water heating bill. Average daily usage gallons per day gallons. By using tankless water heater you can save 96 200 per year based on usage types and capacity of the heater. The average cost of a tankless water heater with.

If plumbing or electrical work is needed installation can add 100 200 making total costs 220 550. 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. But these devices don t come cheap. For example the rheem tankless electric rte 27 1 with a maximum 5 0 gpm and a 10 year warranty costs about 625 750.

The comparison assumes a storage tank water heater as the input type. 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. Let s say you spend 2 000 to purchase and install a tankless water heater. To heat this water they spend around 400 600 per year.

For the average family the energy savings from switching to tankless amount to about 70 to 120 per year. Quantity of water heaters to be purchased unit s 1 unit see assumptions for various daily water use totals.