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Tankless heaters are more expensive, with average costs ranging from $1,000 to $3,000. In comparison, tank water heaters cost between $300 and $2,000 for the tank alone. Additionally, the labor rates to install a tankless water heater are higher, ranging from $300 to $2,500 compared to $200 to $1,100 for a tank-style heater.
See how much you could save. Head over to our hot water cost comparison tool now! This handy comparison tool will estimate the annual running costs for your household size and location if you’re within one of The Gas Hub’s natural gas network regions - Wellington, Taranaki, Manawatu and Hawke's Bay. The comparison tool also compares the ...
Tankless water heater installation costs can range from $800-$3,500 on average. Additional installation costs can increase your upfront price. For example, if you need an electrician to rewire your home systems to support an energy-hungry electric unit, you may have to pay up to $100 per hour.
In April 2024 the cost to Replace a Hot Water Heater starts at $1,468 - $1,701 per heater. Use our Cost Calculator for cost estimate examples customized to the location, size and options of your project. To estimate costs for your project: 1. Set Project Zip Code Enter the Zip Code for the location where labor is hired and materials purchased. 2.
Aug 31, 2022 · So, while the initial cost of a heat pump is typically higher than that of a gas hot water system, its lower running costs can save the average three-person household $275 per year - that’s an average saving of $4,125 over a 15-year lifespan. Compare the average running costs for different hot water systems here.
Feb 17, 2024 · Energy Costs. 6 year models have an Energy Factor around .60. This equates to about $250/year in energy costs for water heating. 12 year models are 5-15% more efficient, with an EF around .65 to .70. This drops annual costs to roughly $225. Over 20 years you could save $500+ on energy alone with a 12 year heater.
