Electric Tankless Water Heater Cost To Run

The comparison assumes a storage tank water heater as the input type.

Electric tankless water heater cost to run.

Benefits of a tankless water heater a tankless unit uses 30 to 50 percent less energy than a standard water heater saving the average family more than 100 a year on heating costs. These units ensure that water runs hot throughout your home allowing you to bathe wash dishes and do laundry with ease. 0 92 electric 0 61 gas energy cost 0 06 per kwh 60 per therm. Tankless water heaters tend to cost more up front than storage tank models.

Most water heaters include a label listing the annual. Often times special wiring needs to be installed in order to handle the increased load and or a new vent pipe needs to be installed. Depending on your selection the average cost for water heater installation is between 1 000 to 3 000. The department of energy computes average annual operating costs of 388 for a storage tank heater and 272 for a tankless heater.

The home depot offers traditional water heater tanks and modern tankless units both powered by either gas or electricity. Tankless water heaters are a higher initial cost but they will cost less to operate because they only need to heat water as it is required and use less energy. The nine models in our tests range from 525 to 1 150. An electric hot water heater ranges in costs from about 300 to 700 while a gas heater ranges from 400 to 800.

Tankless water heats are more expensive primarily due to higher installation costs. Installation costs for an electric heater are 700 to 1 000 while the cost to install a gas heater ranges from 1 000 to 2 000 depending on whether you have an existing gas line and vent. 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. The calculation for an electric heater is similar except that you replace 41 045 with 12 03 and the fuel cost with the cost of electricity per kilowatt hour.

Installation is also cheaper usually about 300 to 500 bringing the total cost in the range of 600 to 1 100. An electric heater with an energy.