Your water heater is a vital part to your homes appliances. Your water heater is responsible for providing the whole home with clean, hot water. If you are looking to save money, lower energy bills, and have an endless supply of hot water, then a tankless water heater may be the right investment for you. Tankless water heaters are an innovative and advanced way to heat water, and come with a lot of perks. This being said, they tend to be expensive to both buy and properly install. However, they can ultimately save you money in the long run. For example, gas-fired tankless water heaters can save you about $108 from your energy costs every year, whereas an electric tankless heater can save you around $44/year.
How Much Does a Tankless Water Heater Cost?
Going tankless is an investment: the starting price of a tankless water heater is much more expensive than a regular water tank heaters. On average, electric tankless heaters cost about $1,000 and gas tankless heaters cost about $3,000 (including installation). This is about three times higher than regular storage water heaters. Another factor to consider if you home is ready for a tankless water heater. Installing one of these requires a technician, and may even require you to upgrade your home’s electrical system. Re-wiring a home for this type of job can cost up to $5,000, and that’s not factoring in the installation costs and the water heater itself.
Pros of Going Tankless
The following are a list of benefits that come from installing a tankless water heater:
- Tankless models save space due to their compact design, removing the need for storage space of a rusty tank
- Going tankless can lead to significant energy savings and lower monthly electric bills
- Tankless heaters last longer, have longer warranties, and are better for the environment
- Tankless heaters supply an endless amount of hot water on demand
- You can choose between electric or gas tankless water heaters, giving you more options on what type is best for your home and your family’s needs
Not Sure if Going Tankless is Right For You?
Call your friends at ACE Home Services by dialing (602) 428-3341 and speak with one of our experienced and certified technicians about scheduling a service call. We can help you discuss your options and figure out if a tankless water heater is right for you. We will work with your budget, and your schedule, to help you find the perfect solution for your home.