Electric Tankless Water Heater Cost Savings

But before you replace your existing electric water heater with one you should look at the one time installation costs annual maintenance and the monthly cost of electricity.

Electric tankless water heater cost savings.

Often they can be mounted to the wall. There is a myth that the upfront cost of tankless water heater is almost double than traditional water heater due using luxury high end technology. Tankless water heater cost. Plus it s a great value with a 5 year heat.

Rheem performance tankless electric point of use water heaters help rheem performance tankless electric point of use water heaters help reduce energy usage save on energy costs and are small so they will be a perfect match for installations under a cabinet or sink in your home office boat or rv. Most tankless water heaters have a life expectancy of more than 20 years. Tankless water heaters cost around 2 3 times more than traditional storage tanks. We rated the annual energy consumption cost excellent for a gas.

With the promise of endless hot water over 9 million electric tankless water heaters are sold in the united states every year. The initial cost of a tankless water heater is greater than that of a conventional storage water heater but tankless water heaters will typically last longer and have lower operating and energy costs which could offset its higher purchase price. Gas and electric tankless water heaters run more efficiently than the conventional water heaters of the same fuel type. What s more you will even reveal how many trees your tankless water heater will save by simply reducing your carbon footprint.

Compact tankless water heaters are small and compact. Your selection of a water heater using gallon s per day will have a energy cost savings per water heater over an estimated 13 year life expectancy compared to the model. According to angie s list the average price of a premium tankless water heater is about 1063 with installation a full 8 10 hours by a professional plumber. 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.

Your savings report will reveal your energy cost per therm energy factor annual energy in therms co2 emissions in pounds and your annual energy cost in your area both before and after tankless. They fit into tight spaces such as underneath the sink or in a closet. Assumptions base model has an efficiency that just meets the national minimum standard for gas and electric water heaters.