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How Much do Tankless Water Heaters Cost? |
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Cost of Tankless Water Heaters
Demand water heaters cost more than conventional storage tank-type units. Small point-of-use heaters that deliver 1 gallon (3.8 liters) to 2 gallons (7.6 liters) per minute sell for about $200. Larger gas-fired tankless units that deliver 3 gallons (11.4 liters) to 5 gallons (19 liters) per minute cost $550-$1,000.
The appeal of a tankless water heater is not only the elimination of the tank standby losses and the resulting lower operating costs, but also the fact that the heater delivers hot water continuously. Gas models with a standing (constantly burning) pilot light, however, offset some of the savings achieved by the elimination of tank standby losses with the energy consumed by the pilot light. Moreover, much of the heat produced by the pilot light of a tank-type water heater heats the water in the tank; most of this heat is not used productively in a demand water heater. The exact cost of operating the pilot light will depend on the design of the heater and price of gas, but could range from $12 to $20 per year. Ask the manufacturer of the unit how much gas the pilot light uses for the models you consider. It is a common practice in Europe to turn off the pilot light when the unit is not in use.
An alternative to the standing pilot light is an intermittent ignition device (IID). This resembles the spark ignition device on some gas kitchen ranges and ovens. Not all demand water heaters have this electrical device. You should check with the manufacturer for models that have this feature.
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