If you are faced with replacing a water heater, the first thing you will want to know is, how much will this cost? Here is a little information about cost to help with your choice. I will give you a wide range due to variables such as warranty (6yr to lifetime) difficulty of installation due to changes in the heaters and codes that govern their installation.
- Standard Gas Water Heater – $1,500 to $2,500: Standard water heaters are still the most economic choice for home owners. If you follow the manufacture recommendation to flush the heater, you can expect your new heater to last 12 to 14 years or more. Consider upgrading the drain valve to make flushing more effective.
- Standard Electric Water Heater – $1,500 to $6,000: When it comes to electric, there is a big range of choices due to so much new technology. you can install the same old 6yr. units all the way up to Hybrids and some heaters with lifetime warranties.
- Gas Tankless Water Heater – $3,900 to $6,000: Tankless has become popular recently, they save on energy cost as well as space. In the Austin Tx. area we have a lot of attic installations. Tankless is a way to get that big tank full of water out of you attic. These heaters come in a varity of sizes and configurations. It is best to rely on your plumber to recommend the right unit for your home. A word of caution, We have noticed a trend of customers purchasing the heater them selves and calling for installation. The idea is by supplying your own heater you can save money and let me assure you, that’s not often the case. Plumbers don’t generally warranty customer supplied parts so you lose a valuable part of your install. Tankless heater are very expensive and technical to work on.
- Solar Water Heaters $5,300 to $7,500: Solar water heaters are a great idea, in theory, and I have installed them and they worked great. the problem is cost and, in my experience, companies that focus on these don’t last. These systems are big, we had to use an 80 gallon tank minimum for storage.
- Rebates: If you replace a regular water heater with a high efficiency unit you may qualify for a rebate from your energy provider as well as a federal tax credit. Check with your power company as well as the IRS (IRS.gov) check for energy incentives for individuals.