How much did it cost you to convert to a tankless water heater?
Question by AnnasBananas: How much did it cost you to convert to a tankless water heater?
I know prices will vary by region, model installed and associated labor costs- but I want to know how much YOU paid in total to convert to a tankless water heater…. Was it worth it? Did you get the full tax credit? Thank you!
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5 Responses to How much did it cost you to convert to a tankless water heater?
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it can be quite expensive
susan t
December 10, 2012 at 4:03 pm
There are too many variables in your question.
For example within the last year I replaced my water heater I was set on getting a tankless prices vary as to how many people are in the household (meaning how much water will you need at once) I have 4 and did not want to skimp so I look at models that allowed multiple uses at once. Had the model picked out, (which did get the allowable tax credit as almost all tankless models do) and the contractor came out to look at doing the job at first said it would be easy citing around $ 200 in addition to the $ 1100 product cost but then realized that the area he planned on using for ventilation (tankless water heaters require additional ventilation) was blocked by the slab of concrete that is my front patio he increased his price by $ 800 dollars.
So price depends on:
1.How many people are being serviced
2. Exactly how your house is setup (is the existing water heater near an exterior wall for easy venting)
3. And how you use your water (Do you want to be able to use multiple hot water sources at once)
By the way, I then checked into solar and found it to be against codes for my backwater area so I then went with a $ 690 highest efficiency water heater I could find (that did have a tank and at least 40 gallon cap.). I have crunched the numbers since and the water heater I bought will save me quite a bit over the inexpensive one I could have got but had I not got frustrated and worried over the initial cost, over the guaranteed lifetime of the product the tankless heater would still have saved me the most money.
Sorry I couldn’t give you the answers you wanted but without knowing how the house is setup and how you use hot water you can’t say, as for the tax credit that is based off how efficient the heater is rated I have not seen a tankless model yet that was not efficient enough to get the credit.
kcguy6935
December 10, 2012 at 4:22 pm
my grandparents had to do the same and it cost 220 dollars and yes they got the full tax credit
Dominique
December 10, 2012 at 4:34 pm
Total $ 120 but i got mine off Ebay a propane heater did the labor myself easy . Yes well worth it what im saving in fuel and have constant hot water never run out . I didn’t do the tax credit thing . Hmm maybe i should
Dads boy
December 10, 2012 at 5:12 pm
We converted to an on-demand or tankless hot water heater in 2007. the unit cost about $ 1000 – it’s a Bosch but a lower level model. We sold our old hot water heater for like $ 75 – and I can’t tell you how much we save on gas since we never lived in the house without one….we thought it would be crazy to do so because it’s an old old home (1780s) with a field stone basement – we would have spent tons for hot water – especially if the unit was electric.
Just as a comparison – we have a friend who also owns an old home who has an electric hot water heater and their electric bill was $ 400 – they got a tankless electric and it went down to $ 200. And gas on demand hot water heaters make it even cheaper.
We did not try to do the tax credit – wasn’t available then – Regardless though – I’d still do the tankless hot water heater.
Ginney
December 10, 2012 at 5:51 pm