How Much Does a Tankless Water Heater Cost?
The average cost to install a tankless water heater in New Jersey ranges from $1,500 – $5,000. While there’s no one-size-fits-all answer, several factors can influence the overall cost, including New Jersey utility costs. At Dustin’s Mechanical, we offer tankless water heater installation services and can provide you with all the information you need to make an informed decision. We’ll explore the factors that can influence the cost of tankless water heater installation and help you save money in the long run.
What Is a Tankless Water Heater?
A tankless water heater is a type of water heater that heats water on demand. Unlike traditional water heaters, which store hot water in a tank, tankless water heaters heat water as it passes through the unit. This means that you’ll never run out of hot water, and you won’t have to wait for a tank to refill.
What Are The Benfits of a Tankless Water Heater?
Installing a tankless water heater in your home can provide several benefits, including:
- Energy Efficiency: Tankless water heaters only heat water when it’s necessary, which means they’re more energy-efficient than traditional water heaters. This can help you save money on your utility bills over time.
- Cost Savings: While the initial cost of a tankless water heater may be higher than that of a traditional water heater, long-term cost savings can make up for it. With a tankless water heater, you won’t have to constantly heat a large tank of water, which can save you money on energy costs.
- Space Saving: Tankless water heaters are much smaller than traditional water heaters and can be installed in a variety of locations, including small closets and under sinks. This can free up valuable space in your home.
- Longer Lifespan: Tankless water heaters typically have a longer lifespan than traditional water heaters. With proper maintenance, a tankless water heater can last up to 20 years, compared to the 10-15 year lifespan of a traditional water heater.
- Endless Hot Water: With a tankless water heater, you’ll never run out of hot water. The unit heats water on demand, so you can take long showers or run multiple appliances without worrying about running out of hot water.
Factors That Influence Cost of Installation
When it comes to installing a tankless water heater, there are several factors that can influence the overall cost. Here’s a closer look at each of these factors:
Size of the Unit
The size of the tankless water heater you need will depend on the size of your home and your hot water usage. Larger units are generally more expensive than smaller units, so it’s important to choose the right size for your needs to avoid unnecessary costs.
Complexity of the Installation
The complexity of the installation can also impact the overall cost. If your home doesn’t already have a gas line or the electrical system needs updates, these additional installation requirements can increase the cost of the project.
Type of Fuel Used
Tankless water heaters are available in both gas and electric models. While gas models tend to be more expensive up front, they can save you money in the long run due to lower operating costs. Electric models, on the other hand, tend to have lower installation costs but can be more expensive to operate over time.
Location of the Installation
The location of the installation can also affect the cost. If the unit needs to be installed in a difficult-to-reach location or in an area with limited space, the installation may take longer and cost more.
By taking these factors into account, you can get a better idea of what to expect in terms of cost when installing a tankless water heater in your home.
How Do New Jersey Utility Costs Influence Installation?
New Jersey utility costs can also play a role in the overall cost of tankless water heater installation. For example, if you’re installing a gas-powered tankless water heater, you’ll need to consider the cost of natural gas in your area. If you’re installing an electric tankless water heater, you’ll need to consider the cost of electricity.
Additionally, you’ll need to factor in any rebates or incentives that may be available to you for installing a high-efficiency water heater.
Tankless Water Heater Installation: DIY vs. Professional
While some homeowners may want to install a tankless water heater themselves, it’s usually best to leave the job to the professionals. Tankless water heaters can be complex to install, and a professional installer will have the knowledge and experience to ensure that the installation is done correctly.
Professional installation can also ensure that your new tankless water heater is covered by the manufacturer’s warranty. Self-installation can void the warranty and leave you responsible for repairs or replacements if something goes wrong.
Tankless Water Heater Installation Near You
The cost of installing a tankless water heater can vary. However, the benefits of a tankless water heater can often outweigh the upfront cost of installation. If you’re considering upgrading to a tankless water heater in New Egypt and central New Jersey, Dustin’s Mechanical can help. As reputable hot water heater installers, we help you weigh all the options, offer our expert advice and even help you finance your tankless water heater installation.
Contact us online or call 609-488-6353 today to learn more about tankless water heaters and to schedule your free consultation in central New Jersey.
