Depending on the type (gas, electric, or propane) and size of a tankless water heater, it will have different costs. Generally though, a tankless water heater will be about twice as much as a conventional (tank) water heater with the initial installation. The difference in the prices may seem dramatic, but this is only a one time, short-term cost. It is basically an investment you will make to save money in the long run. You will start to see the real cost saving qualities of a tankless heater when it continually lowers your monthly energy bill.
Benefits of a tankless water heater include:
- Tankless Water Heaters Save you energy use and money every month
- You will have a constant hot water supply
- Life expectancy is nearly doubled
- Much more compact in size and aesthetically pleasing