A tankless hot water heater is a more efficient way to heat water in your home compared to a conventional tank system. These units heat water on demand instead of having a large tank of water that remains hot for multiple uses throughout the day. Depending on your usage level and the size of your home, you may want to consider installing a tankless water heater over a conventional one. However, the cost of installing a tankless hot water heater can be high if you’t have the right contractor on your team. Keep reading to learn more about the cost of installing a tankless water heater and how to find the best contractor for the job.

How much does it cost to install a tankless water heater?

The cost to install a tankless water heater depends largely on the square footage of your home, the type of unit you want, and the location of the water heater in the home. For example, a smaller unit may only cost $1,000 to $2,000, whereas a larger unit such as a commercial model may cost $5,000 to $10,000. If you want an instant-on unit where the water is ready to use as soon as you turn the tap, you may want to consider the cost to install a tankless hybrid unit. These units combine the efficiency of a tankless unit with the capacity of a conventional tank system. The cost of a hybrid unit generally falls between the cost of a tankless unit and a conventional tank system.The cost to install a tankless water heater will also depend on the location of the water heater in your home. If it’s in a central location, such as the kitchen or utility room, the cost will be higher than for a unit installed in a less-accessible area of the home. The cost of installing a tankless water heater can also be affected by the condition of the water supply line, the type of unit you choose, and the availability of the contractor at the time of installation.

Is there a cost to replace a tankless water heater?

You may be able to use the same unit you currently have, but the cost of replacing a tankless unit will depend on the age and condition of the current unit. If your current unit is working properly, but you want to install a more efficient model, the cost will be higher. If your unit is old and in poor condition, you may be able to save by replacing it with a new model. When you’re ready to purchase a replacement unit, you’ll need to decide what’s most important to you: efficiency or cost. If you’re in need of a tankless water heater, but don’t want to break the bank, you can search for a quality model that’s within your budget.

How long does it take to install a tankless water heater?

The amount of time it takes to install a tankless water heater will depend on various factors, such as the size of the unit, the condition of the existing water supply line, and the location of the unit. If you’re replacing an old unit that’s in poor condition, the installation process will take longer than if you’re installing a new unit. The average time to install a tankless water heater is about two to four days. The time is longer if you have to replace an old cast iron water main, but it will vary based on your location and the contractor you choose.

Tips to save money on a tankless water heater

If you’re in need of a tankless water heater, you have several options to consider. To start, you can check with your utility company to see if they offer incentives for going solar. You can also search for a rebate offered by your local government, which may help you lower the cost of installing a tankless water heater. You can also consider going with a smaller tankless model that’s more efficient, as opposed to a larger unit that may be more costly. Another way to save money on a tankless water heater is to install a hybrid model that combines the efficiency of a tankless unit with a larger capacity. The savings will vary based on the size of the unit and your usage level. To help you save even more money, consider installing a tankless water heater in an unfinished or unheated area of your home, such as a garage or unfinished basement.

Bottom line

A tankless water heater is a more efficient way to heat water in your home compared to a conventional tank system. These units heat water on demand instead of having a large tank of water that remains hot for multiple uses throughout the day. Depending on your usage level and the size of your home, you may want to consider installing a tankless water heater over a conventional one. However, the cost of installing a tankless hot water heater can be high if you’t have the right contractor on your team. Keep reading to learn more about the cost of installing a tankless water heater and how to find the best contractor for the job.