If you’re considering upgrading your water heater system, you might be wondering about the cost of installing an electric tankless water heater. This article will cover all the factors that determine the cost of installation, from the cost of the unit itself to the installation process and any additional costs that may arise.
What is an Electric Tankless Water Heater?
Before diving into the cost of installation, it’s important to understand what an electric tankless water heater is. Unlike traditional water heaters that store hot water in a tank, tankless water heaters heat water on-demand as it flows through the unit. This means that you only heat the water you need, saving energy and reducing costs in the long run.
Cost of the Unit:
The first cost to consider when installing an electric tankless water heater is the cost of the unit itself. Tankless water heaters are generally more expensive than traditional water heaters, but they also last longer and provide energy savings in the long run. The cost of an electric tankless water heater can range from $500 to $1,500, depending on the size and brand of the unit.
Installation Costs:
After purchasing an electric tankless water heater, the next cost to consider is the installation cost. The installation cost can vary depending on the complexity of the installation process, the location of the unit, and the type of electrical wiring required. Typically, the installation of an electric tankless water heater costs between $1,000 to $3,000.
Additional Costs:
In addition to the cost of the unit and the installation, there may be additional costs to consider. For example, if the electrical system in your home isn’t equipped to handle the electrical load of an electric tankless water heater, you may need to upgrade your electrical system, which can add to the overall cost of installation. Additionally, if you need to reroute pipes or install new ventilation, this can also increase the cost.
Benefits of Installing an Electric Tankless Water Heater:
While the upfront cost of installing an electric tankless water heater may be higher than a traditional water heater, there are long-term benefits to consider. Electric tankless water heaters are more energy-efficient, which can lead to significant cost savings on your utility bill. Additionally, since they don’t require a storage tank, they take up less space and can last longer than traditional water heaters.
Conclusion:
In conclusion, the cost of installing an electric tankless water heater can vary depending on several factors, including the cost of the unit, installation costs, and any additional costs that may arise. While the upfront cost may be higher than traditional water heaters, the long-term benefits of energy efficiency, space-saving, and longevity can make it a worthwhile investment.
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