Electric Tankless Water Heater Cost To Run

Gas and electric tankless water heaters run more.

Electric tankless water heater cost to run.

Department of energy estimates that in homes using 41 gallons or less of hot water on demand tankless units can conserve between 24 to 34 more energy than tank water heaters. A 50 gallon 5 500 watt water heater with a 90 ef and an electricity rate of 16 per kilowatt hour will cost 781 to operate each year. Let s say you spend 2 000 to purchase and install a tankless water heater. Tankless water heaters tend to cost more up front than storage tank models.

224 for gas you would save 214 per year using gas although the exact numbers you see would depend. Tankless water heaters pros. This makes the total cost for a 40 gallon electric hot water heater between 1000 and 1 700 with the total costs of a 40 gallon gas hot water heater between 1 400 and 2 800. 0 92 electric 0 61 gas energy cost 0 06 per kwh 60 per therm.

Tankless water heaters can be powered by gas or electricity but even gas powered tankless water heaters rely on an electric control panel to operate the system. Compact tankless water heaters are small and compact. Tankless water heaters cost around 2 3 times more than traditional storage tanks. Quantity of water heaters to be purchased unit s 1 unit see assumptions for various daily water use totals.

Going by the examples given above where the electric heater costs 438 in fuel vs. Maintenance both gas and electric water heaters are fairly easy to maintain. Generally speaking a gas water heater will cost less per month than an electric model since natural gas prices tend to be lower than the cost of electricity. Installing a tankless water heater is a greater upfront investment but these units can significantly cut the cost of monthly utilities.

The comparison assumes a storage tank water heater as the input type. Electric water heater operation costs. Tankless water heater cost. Most water heaters include a label listing the annual.

The nine models in our tests range from 525 to 1 150. The average cost for a tankless water heater installation is 1 985 or between 1 470 2 510 if your home needs to be rewired it can easily add 3 000 or more to the cost of installing a tankless water heater.