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Installing a tankless water heater is a greater upfront investment, but these units can significantly cut the cost of monthly utilities. The U.S. Department of Energy estimates that in homes using 41 gallons or less of hot water, on-demand tankless units can conserve between 24% to …

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Gas or Electric. The cost of water heated by electric is $100 per year more than gas. Plus, a gas heater costs less initially. The 40-50-gallon water heater with a tank is about $350 – $3,000; while the gas heater is $250 – $1,200. Tankless Water Heater. These units do not store hot water but rather heat it as needed, which saves energy.

The cost to Replace a hot water heater starts at $1,155 – $1,339 per heater, but can vary significantly with site conditions and options. Get fair costs for your SPECIFIC project requirements. See typical tasks and time to replace a hot water heater, along with per unit costs and material requirements. See professionally prepared estimates for hot water heater replacement work.

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