A water heater is a necessary component of your home’s plumbing system. Water heaters have traditionally consisted of a large storage tank located somewhere in the basement. But many homeowners are turning toward tankless water heaters that are capable of heating water without the need for a storage tank. These units use electric elements or gas burners to heat water on demand and supply a constant supply of hot water, which appeals to many homeowners. But how much does it cost for tankless water heater installation anyway?

What follows is a look at tankless water heater installation costs as well as some of the benefits of switching to a tankless water heater from a traditional water heater that has a storage tank.

Estimated Costs for Tankless Water Heater Installation

If you hire a licensed plumber to install a tankless water heater in your home, you can expect to pay in the range of $2,500 to $5,000. The average homeowner, however, will pay about $2,900 for a whole-house tankless water heater system. It will cost less for a tankless water heater designed to accommodate a single point. Such an option typically calls for an installation in close proximity to the water source. Such a project could cost in the neighborhood of around $1,100 for a simple unit to close to $7,000 for a higher-end solar water heater unit.

Advantages of Tankless Water Heater Installation

There are several advantages of a tankless water heater. Here are some of the main benefits:

Constant Supply of Hot Water: A tankless water heater can provide you and your family with a constant supply of hot water as long as it possesses enough energy or fuel to heat the water.

Durable: Tankless water heaters are made from durable materials. This means that they will last you a long time.

Small Space Requirement: If you have a hot water system that includes a large tank in the basement, you know that it does take up a bit of space. This means the licensed plumber will have to scan the premises to ensure that it’s installed in an appropriate location. However, a tankless water heater is much smaller than a traditional water heater system that will include a tank as large as 60 gallons. This means that there will be many options as per where you install a tankless water heater. It can be placed on a wall, for instance, which will free up precious floor space. So tankless water heater installation will be a good addition to even a really small home.

Energy Efficiency: A tankless water heater is more energy efficient than a tank-based water heater. On the one hand, a tankless water heater is more energy efficient than a tank-based water heater because it heats water on an as-needed basis. On the other hand, a tank-based water heater is less energy efficient since water starts to lose heat once it rests in the tank. The ongoing process of turning on and off in order to heat the water ends up consuming more energy than the tankless water heater method.

Electric and Gas Units Available: If you decide to call a licensed plumber for tankless water heater installation, you can choose from electric and gas models. This gives you options so that you can select the one that best fits your home. If you’re unsure which unit to choose or if it even makes a difference, you can ask a licensed plumber.

Final Words

When the time comes for a tankless water heater installation, you’ll be best served by contacting a licensed plumber. The cost you’ll pay will, as was discussed earlier, be based on different factors. Your best bet is to get several quotes so that you can find the best option for you.