![]() ![]() ![]() ![]() Gas: While a gas system will cost $100 to $200 more than an electric model upfront, most people end up saving more over the life of the unit on their utility bills because natural gas costs less than electricity, on average.Gas and electric are the most common power sources, but homeowners have a few other choices, depending on their needs. The type of fuel that powers a water heater, whether tank or tankless, will also affect the overall cost. Ultimately, the decision between a tankless and tank-style water heater should be based on your specific needs and budget.” Fuel type On average, it takes eight to 10 hours to install a new tankless system, compared with the two to three hours it takes to install a tank-based system.Īccording to Sean Richardson, owner of Complete Plumbing Solutions in Ireland: “Tankless water heaters usually have a higher upfront cost, but they typically have a longer life span and are more energy-efficient, resulting in lower long-term costs. Licensed plumbers will charge anywhere from $50 to $150 an hour for labor, but not all plumbers will be able to install a tankless system, as it can involve putting in new gas and water lines. Tankless water heaters usually have a higher upfront cost, but they typically have a longer life span and are more energy-efficient, resulting in lower long-term costs.” - Sean Richardson, Complete Plumbing Solutions This is due to the base price of the unit itself ($250 to $3,000) and because of higher labor costs, which are usually between $400 and $1,500. The cost to install a tankless water heater is higher than the cost of a tank-based system. Tankless systems heat water on demand and can last twice as long as tank systems, but they cost two to three times as much. The cost of a standard tank-storage water heater unit averages $400 to $1,600, and installation costs range from $150 to $800. The downside of tank-based heaters is that they take one to two hours to replenish when the hot water runs out. The biggest factor in your water heater replacement costs will be whether you choose a tankless or tank-based system.Ī tank system is easier to install and holds hot water in a tank (anywhere from 30 to 80 gallons). Take a look at the top factors that affect the cost of replacing a water heater. There are also high-efficiency and solar options that run significantly higher - upward of $3,000. You should expect to spend at least $1,000 for a basic water heater, while opting for a tankless system might cost up to $2,400 or more. Water heaters are less expensive to replace than some other systems, like HVAC systems, but they still represent the second-highest source of energy use in the home. ![]()
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