Tankless Water Heater Gas Vs Electric Cost

Tankless water heaters pros.

Tankless water heater gas vs electric cost.

Using a natural gas rate of 10 86 per 1 000 cubic feet we calculated that. An electric hot water heater ranges in costs from about 300 to 700 while a gas heater ranges from 400 to 800. However you will have to take the cost of the electricity used to operate the heater into consideration. Cost of a gas hot water heater.

As far as initial cost is concerned a good quality whole house electric tankless water heater generally cost about 500 700 whereas a typical gas tankless water heater cost about 1 000 to 1 200 especially for units with an electronic ignition no pilot. A gas water heater costs at least twice as much as an electric heater. Electric water heaters typically have a lower upfront cost than gas water heaters. This is almost 2 times the price of an electric tankless water heater.

Compact tankless water heaters are small and compact. For a model with electronic ignition to remove the need for a pilot light you ll need to pay closer to 1 200. With no need to vent the installation work is not as complicated. Electric models run consistently produce high energy ratings and are easier to maintain than gas.

A good sized electric tankless water heater goes for around 500. For a good sized gas fuelled tankless heater costs between 1000 and 1200. Electric tankless water heaters are way cheaper than their gas fuelled competitors. For a high quality unit you can expect to spend a minimum of 1 000.

An electric water heater with a storage tank has an average cost between 300 and 700 plus an additional 300 to 500 for installation. In general however statistics show that a gas water heat will cost around 30 month for the average home while an electric heater will cost you closer to 42. Let s say you spend 2 000 to purchase and install a tankless water heater. 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.

We factored in an installation cost of 1 250 for a gas tankless and slightly less 1 150 for an electric. In many cases using an electric water heater will result in higher utility costs as compared to using a gas water heater.