Tankless Gas Heater = $1200/year + ($2000/20 years) = $1300/year. These appliances reach mid-80% energy efficiency. Same price electric models will produce more hot water than gas models. Electric water heaters range in power . Prices of natural gas and propane are usually lower than the price of . It all depends on the type of electric heater you're using. Electric is cheaper upfront, and simpler installation, since it doesn't require any venting, but gas will be cheaper to run. 365 days/year x 12.03 kWh/day EF x Fuel Cost ($/kWh) = annual cost of operation. Gas offers an 80-85% efficiency, while most electric tankless heaters tout a stunning 98-99% efficiency. The tankless heater has to work extra hard to bring the water temperature up to 110F or 120F. The average installation cost for a water heater is between $825 and $1,700. Gas water heaters average on a total of $1,300 - $2,600 in advance. Though the efficiency rating of some electric units is actually . Water heater installation cost - chart. Also, non-condensing type gas water heaters are less expensive but need extra cost to install venting pipes. For electric water heaters, including heat pump units. The regular price range for electric tankless water heaters is $500-$1000. The initial cost is what turns most people off from purchasing a hybrid water heater, as traditional water heaters cost significantly less than hybrid water heaters do. . Fuel costs. With the option for natural gas or an electric tank water heater, you do see some benefits to selecting the tank option. For homes that use 41 gallons or less of hot water daily, demand water heaters can be 24%-34% more energy efficient than conventional storage tank water heaters. Find out exactly how much money tankless can keep in your pocket with the Tankless Energy Savings Calculator. 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. Electricity is more expensive than gas, but the efficiency and lack of required maintenance offset the cost. A good sized electric tankless water heater goes for around $500. The national average cost to install a gas water heater is $1,000 to $2,500. Using this gas tankless water heater for two hours will consume 50 to 130 watts (0.05 to 0.13 kWh). 3. (Propane) can power gas cooktops, home heating and hot water systems. Model Number Energy Factor $ Annual Estimated Cost Nat $ Annual Estimated Cost LP GCVT-40 0.60 $304 $492 GCVT-50 0.58 $315 $531 GCVX-50 0.58 $315 $531 GCV-65 0.57 $320 $540 FCG-75 N/A N/A N/A FCG-100 N/A N/A N/A Model Number Energy Factor $ Annual Estimated Cost Nat $ Annual Estimated Cost LP GVR-30 Series 200/201 0.62 $294 $497 GVR-40 0.62 . Gas water heaters typically cost about $30 a month to run, while electric water heaters run closer to $42 a month , depending on utility rates. Most models have an efficiency rating of 98 to 99%. They can be 8%-14% more energy efficient for homes that use a lot of hot water -- around 86 gallons per day. An electric hot water heater ranges in costs from about $300 to $700 while a gas heater ranges from $400 to $800. A gas tankless water heater cost per year for a family of 4 is roughly $144; By the same metric, an electric tankless water heater will cost roughly $0.11 per kWh which for the equivalent BTU usage for that same family of 4 is $0.96 per day. . You need to know or convert the unit cost of electricity by kilowatt-hour (kWh). If your looking for a higher GPM than electric models, gas tankless water . For simplicity, the analysis will be limited to upfront and operation costs. If you live in New York, where the average kWh price is 19.30 cents, you will pay 0.965 to 2.5 cents daily. This cost will vary depending on the efficiency rating of the . In some cases you may be able to achieve even greater energy savings if . Tankless Electric Heater = $4351/year + ($1500/20 years) = $4426/year. . They can reach EF of 0.98, while gas-powered ones reach EF of 0.9. For most homeowners and businesses, the high costs of installation of gas tankless water heaters make electric units much more practical and cost effective, and a better overall investment. Tank Water Heaters. The national average price of a tankless water heater is $2,200. That said, the Department of Energy estimates that a gas-powered tankless water heater would lower energy costs by around $100 a year, and an electric tankless water heater reduces costs by $44 a year. For a standard electric heater, you will have to pay around 500 dollars. While electricity is the more expensive fuel of the two (at the moment, at least), the high efficiency rating of electric water heaters will ensure you spend less money in the long run. Let's say you spend $2,000 to purchase and install a tankless water heater. Fortunately, gas heaters are energy-efficient and ensure the most environment-friendly service possible. In order to know how much a tankless water heater will reduce your energy bill, you would need to factor in your own personal rates. The average annual operating costs of a hybrid water heater is about $190 per year. Savings on the base retail price can range from 250-500 dollars. Gas water heaters cost less to operate than electric water heatersabout 33% less. Yearly cost gas vs electric tankless water heater: The Yearly operating cost is $195 for a gas tankless and $535 for the electric water heater. Example: A heat pump water heater with an EF of .0 (this is the highest efficiency unit on the market) and an electricity cost . Using a natural gas rate of $10.86 per 1,000 cubic feet, we calculated that . According to the Department of Energy, based on the assumption that an electric water heater runs for an average of about three hours per day, a 50-gallon water heater, running at 5,500 watts, with an electricity rate of $0.16 per kWh, will have an annual operation cost of $781. The electric tankless water heater has a 98-99 percent energy efficiency rating. On the other side, condensing type . The total cost range is under $300 to more than $2,000 when considering the whole range - from a . Installation. . EcoSmart ECO 27. This is almost 2 times the price of an electric tankless water heater. If you need continuous hot water, you will have to go with gas. Here are the particular differences between electric and gas tankless hot water heaters: Energy-efficiency. Water heater replacement costs $600 to $1,800 for a tank or $800 to $3,500 for a tankless. The most sophisticated electric model will cost less than same output gas models. Using gas for hot water and home heating can cost less than using electricity. Electric systems are more efficient (98 - 99 percent efficiency) than gas systems (80 to 85 percent efficiency). The average cost of an electric water heater installed by a plumber is about $625 for a point of use model and around $1,150 for a whole house electric water heater. The average gas tankless water heater installation cost $950 - $3,900 for an energy-efficient natural gas set-up with an annual ownership cost ranging from $185 - $270 to run. It is because rest is exhausted in the form of steam or vapors. On Home Depot. Gas fueled tankless water heaters operating costs are about $228 per year. To calculate the annual operating cost of a propane water heater, you need to divide 41,045 by the heater's Energy Factor and multiply the result by 365, and the fuel cost per British thermal unit . Installation costs are affected by the type of heater, the desired installation . The price advantage is increased when using gas for both water and home heating. What size tankless water heater do I need for a family of 5? Of all types of water heaters, tankless water heaters are the easiest to . How big of a tankless water heater do I need for a family of 5? They do not waste energy. If you use approximately 64 gallons of hot water per day, an electric water heater will cost about $285 per year, while a gas water heater will cost about $110 per year depending on your energy costs. Of course, I realized that there are some situations were a gas tankless water heater may still be more appropriate While gas usually costs less according to power output, electric tankless water heaters are more efficient than gas types. While a gas-powered unit only has an energy efficiency of 80-85%. Bowerman: Water connections are the same on both gas and electric. As the tankless system is more efficient, less fuel is used to produce hot water. A 30-gallon electric water heater might cost as little as $270. You only really begin to see a difference in cost when you consider energy consumption. Tankless water heaters cost anywhere from $800 - $3500 for initial installation, but you will only need to pay high installation costs once. This makes the total cost for a 40-gallon . These units are 90% to 98% energy efficient, and they are less pricey than gas models. Both will require annual descaling and/or good water treatment (filter and/or softener depending on your water quality) to keep them functional. Lastly when comparing prices for high-end tankless water heaters, electric models range in price from $700-850, while gas tankless water heaters cost $1,350-1,500+. Going by the examples given above, where the electric heater costs $438 in fuel vs. $224 for gas, you would save $214 per year using gas, although the exact numbers you see would depend . Initial Cost: In terms of initial product cost, electric tankless water heaters cost significantly less than their gas counterparts. Pricing. Gas vs electric hot water systems. Most pay around $1,200 for an installed 50-gallon storage-style water heater with a direct vent. Gas water heaters tend to be just slightly more expensive than their electric counterparts. Electric tankless water heaters are usually less expensive than gas heaters. Comparatively, energy-efficient gas water heaters have an EF of .67 or higher, while energy-efficient electric water heaters have an EF of 2.00 or 2.20, depending on tank size. The efficiency rating for water heaters is based on how much hot water the unit produces with a single fuel unit. "If you have a gas water heater and you're replacing it with a gas water heater, you can expect installation to cost about as much as the unit itselfaround $300 to $500," O . A new 40- to 50-gallon hot water heater costs $330 to $2,000 for the unit alone, plus the plumber labor cost to install is $200 to $1,000. Cost-efficiency. This gives gas heaters a higher upfront cost. The average tankless heater goes for about $500-$1700, while the average tank-based heater goes for about $400 - $800. Installation costs for an electric heater are $700 to $1,000 while the cost to install a gas heater ranges from $1,000 to $2,000 depending on whether you have an existing gas line and vent. Some tankless heaters cost upwards of $5,000 if they have special features or an exceptionally energy-efficient performance (such as condensing tankless water heaters). Average input ratings for a gas water heater range from around 30,000 to 180,000 BTUs, depending on size. The more capacity an electric water heater has, the higher the cost. Efficiency: Electric tankless water heaters are very efficient when we talk in terms of energy. You can also calculate projected savings simply by zip . Otherwise, electricity is probably a cheaper, more reliable way to go. To purchase a gas-fueled water heater, you have to spend about $1000 - $1200, whereas by paying $500, you can get an electric water heater. On average, you can expect to pay about $1,500 for parts and labor. When comparing mid-range prices tankless water heaters, an electric model costs $500-570, while a gas tankless water heater costs $900-1,170. Condensing tankless water heaters, on the other hand, can use inexpensive PVC piping since the condensing process cools off the gases before releasing them. Although gas water heaters may need more maintenance over the years, there isn't a great deal of difference in terms of their longevity. Compact - Tankless water heaters are small and compact. 2y. Higher. Tankless: We factored in an installation cost of $1,250 for a gas tankless and slightly less, $1,150, for an electric. On the flip side, electric tankless water heaters can have both a good and a harmful impact on the environment. 2. The yearly ownership cost of each heater option would be: Heat Pump Cost = $1688/year + ($1800/15 years) = $1808/year. If the electricity prices are higher in your area and you have access to gas, then a gas unit will be cheaper to work. As the efficiency and quality of both the heaters increase, their costs will be higher. Base cost. Lower. A regular propane heater will be available to you for approximately 700 dollars. Electric tankless water heaters are way cheaper than their gas-fuelled competitors. According to PERC (Propane Education & Research Council), annual energy use for the propane tankless water heater is around $290 while for the electric tank-type water heater is approximately $645, which is more than double. The tankless heater has to work extra hard to bring the water temperature up to 110F or . Cost - Purchasing: Depending on the size, quality, flow rate and efficiency rating, gas tankless water heaters will cost between $500 and $2,000. Whole house electric tankless water heaters cost about US$500-700 where as gas tankless water heaters generally cost US$1,000 or more, especially for better quality systems with electronic ignition systems. Buy Now . However, because of the significantly lower cost of natural gas, these water heaters can be cheaper to operate compared to an electric version. The reason is gas tankless water heater features an electronic ignition system whose quality varies with the price. Tankless vs. In addition, the electric model has about 70% higher gas emissions (at the point where it is created).