Electric Tankless Water Heater Cost Per Year

A central tankless water heater providing hot water for an entire house can cost 800 3 000 or more without installation depending on gallons per minute capacity and the unit s energy efficiency rating.

Electric tankless water heater cost per year.

64 energy factor 0 92 electric 0 61 gas energy cost 0 06 per kwh 60 per therm. Let s say you spend 2 000 to purchase and install a tankless water heater. Quantity of water heaters to be purchased unit s 1 unit see assumptions for various daily water use totals. For the average family the energy savings from switching to tankless amount to about 70 to 120 per year.

Average daily usage gallons per day gallons. The average cost of a tankless water heater with. A tankless water heater is one way to ensure that you never again experience any unexpected cold showers. But these devices don t come cheap.

By using tankless water heater you can save 96 200 per year based on usage types and capacity of the heater. To heat this water they spend around 400 600 per year. The efficiency of tankless water heater over storage type heaters is 24 34. If your annual savings are 100 it would take 20 years the approximate lifespan of a tankless water heater to recoup the cost in energy savings.

The comparison assumes a storage tank water heater as the input type. For example the rheem tankless electric rte 27 1 with a maximum 5 0 gpm and a 10 year warranty costs about 625 750.