Tankless Water Heater Gas Vs Electric Cost

We factored in an installation cost of 1 250 for a gas tankless and slightly less 1 150 for an electric.

Tankless water heater gas vs electric cost.

In general however statistics show that a gas water heat will cost around 30 month for the average home while an electric heater will cost you closer to 42. Let s say you spend 2 000 to purchase and install a tankless water heater. Using a natural gas rate of 10 86 per 1 000 cubic feet we calculated that. For a high quality unit you can expect to spend a minimum of 1 000.

Cost of a gas hot water heater. A tankless electric water heater has an average cost between 800 and 1 500 plus an additional 800 to 1 200 for installation. An electric hot water heater ranges in costs from about 300 to 700 while a gas heater ranges from 400 to 800. From the viewpoint of cost optimization natural gas is usually a better choice because the cost of propane is usually twice that of natural gas.

Electric tankless water heater costs less expensive than gas electric models cost an average of 800 to 1 600 to install. Electric models run consistently produce high energy ratings and are easier to maintain than gas. Electric tankless water heaters are way cheaper than their gas fuelled competitors. As far as initial cost is concerned a good quality whole house electric tankless water heater generally cost about 500 700 whereas a typical gas tankless water heater cost about 1 000 to 1 200 especially for units with an electronic ignition no pilot.

Tankless water heaters pros. Compact tankless water heaters are small and compact. Gas tankless water heater producers offer both natural gas and propane versions of heaters with roughly the same specifications. With no need to vent the installation work is not as complicated.

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. For a good sized gas fuelled tankless heater costs between 1000 and 1200. An electric water heater with a storage tank has an average cost between 300 and 700 plus an additional 300 to 500 for installation. For a model with electronic ignition to remove the need for a pilot light you ll need to pay closer to 1 200.

A gas water heater costs at least twice as much as an electric heater.