If you’re considering replacing your old tank-style water heater with a hybrid water heater, you’re probably wondering about the cost. While the upfront cost of a hybrid water heater may be higher than a traditional tank-style water heater, the long-term savings on energy bills may make it a worthwhile investment. In this article, we’ll explore the cost to replace a tank-style water heater with a hybrid water heater, including factors that may impact the cost.
What is a Hybrid Water Heater?
A hybrid water heater, also known as a heat pump water heater, is a type of water heater that uses electricity to move heat from the air or ground to heat water. Unlike a traditional tank-style water heater that heats and stores water in a large tank, a hybrid water heater heats water on demand, meaning it only heats water when you need it.
Factors that Impact the Cost of Replacing a Water Heater with a Hybrid Water Heater
The cost of replacing a tank-style water heater with a hybrid water heater can vary based on a few factors. Here are a few things to consider:
Type of hybrid water heater:
There are different types of hybrid water heaters, including air-source and geothermal. Air-source hybrid water heaters are typically less expensive than geothermal units.
Size of the hybrid water heater:
The size of your new hybrid water heater will depend on your household’s hot water usage. If you have a large family, you’ll need a larger unit, which will be more expensive.
Installation costs:
The cost of installation can vary depending on the complexity of the installation and the region where you live. In general, installation costs are higher for hybrid water heaters compared to traditional tank-style water heaters due to their complexity.
Rebates and incentives:
Some states and local utilities offer rebates and incentives for installing energy-efficient hybrid water heaters, which can help offset the upfront cost.
Average Cost to Replace a Water Heater with a Hybrid Water Heater
The cost to replace a tank-style water heater with a hybrid water heater can range from $1,500 to $3,500, including installation. The cost will depend on the factors we’ve discussed above, as well as other factors specific to your situation. It’s a good idea to get quotes from multiple contractors to get a better idea of the cost in your area.
While the upfront cost of a hybrid water heater may be higher than a traditional tank-style water heater, the long-term savings on energy bills can be significant. Hybrid water heaters are more energy-efficient and can save homeowners hundreds of dollars per year on energy bills.
Other Factors to Consider
When replacing your old water heater with a hybrid water heater, it’s important to consider other factors that may impact the cost. For example:
Upgrading electrical wiring:
Hybrid water heaters require a dedicated electrical circuit and may require an upgrade to your home’s electrical wiring, which can add to the cost.
Maintenance costs:
Hybrid water heaters require regular maintenance, including cleaning the air filters and checking the refrigerant levels. Maintenance costs should be factored into the overall cost of owning a hybrid water heater.
Lifespan:
Hybrid water heaters typically last longer than traditional tank-style water heaters, which can also impact the overall cost. While a traditional water heater may last 10-15 years, a hybrid water heater can last up to 20 years with proper maintenance.
In Conclusion
Replacing your old tank-style water heater with a hybrid water heater can be a great investment in your home’s energy efficiency. While the upfront cost may be higher, the long-term savings on energy bills can make it a worthwhile investment. When considering the cost to replace your water heater, it’s important to factor in installation costs, size, type, rebates and incentives, electrical upgrades, maintenance costs, and lifespan.
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