How Much Does a Hot Water Heater Cost?

A water heater is an essential appliance in any home, providing hot water for showers, laundry, and dishes. However, when it comes time to replace or upgrade your water heater, you may be wondering how much it will cost. The cost of a water heater can vary depending on several factors, including the type of heater, the size of the unit, and the brand. In this article, we will explore the different types of water heaters available on the market and their corresponding costs, as well as the factors that can affect the price of a water heater. We will also provide tips on how to choose the right water heater for your home and budget. Whether you’re looking to replace an old water heater or install a new one in a new home, this guide will help you understand the costs and options available to you.

How Much Does It Cost To Replace a Water Heater?

On average, a conventional water heater will cost between $700 and $1,000. However, the exact cost will vary depending on several factors. This includes the type of heater, the fuel source, the size of the unit, and the brand.

On average, a standard electric water heater can cost between $300 and $800, while a standard gas water heater can cost between $400 and $1,200. Tankless water heaters can be more expensive, with prices ranging from $1,000 to $3,000. Other styles of water heaters can range from as low as $200 to upwards of $10,000.

It’s always good to get a quote from a professional to get a more accurate estimate for your specific needs.

What Is the Price Range for Each Type of Water Heater?

The cost range for each type of water heater can vary depending on factors such as size and efficiency. Here is a rough estimate of the price range for the most common types:

1. Conventional storage water heater: q standard electric water heater can range from between $300 to $800, while a standard gas water heater can cost between $400 to $1,200.
2. Tankless water heater: A tankless or on-demand water heater can run anywhere from $1,000 to $3,000.
3. Solar water heater: The average cost of solar water heaters ranges from $5,000 to $10,000, depending on the size and type of system. New installations will also cost more than replacing an existing solar system.
4. Heat pump water heater: Heat pump-style water heaters typically cost from $1,000 to $3,000.
5. Hybrid water heater: Hybrid water heaters usually cost between $1,000 and $3,000.
6. Point-of-use water heaters: The price range for a point-of-use water heater ranges from $200 to $800.

It’s always best to consult a professional to get a more accurate estimate for your specific needs. Installation and maintenance costs may also vary and should be considered. It’s also worth noting that you have additional costs for a new water heater installation. For example, changing from a traditional water heater to a new solar or hybrid style unit.

What Are the Pros and Cons of Different Types of Water Heaters?

While most of us think of conventional storage or tank-style water heaters, there are actually several different types on the market. They each have their own advantages and disadvantages, as well as price points. Here are the basics you should know about these main types of water heaters.

Conventional Storage Water Heater

This is likely the style you picture when you think of a water heater. Conventional storage units feature a large tank that stores water. They are also called tank water heaters or hot water tanks. An electric element or gas burner heats the water and stores it until you need it.

They are widely available and simple to install and maintain. Plus, they provide a large volume of hot water. However, they can waste a lot of energy since they keep all that water hot until you need it. Over time, the tank can rust and cause a leak.

With regular use, a conventional storage water heater will last anywhere from 8 to 12 years on average. However, you can get upwards of 20 years out of them with regular flushing and proper maintenance.

Tankless Water Heater

Also known as on-demand water heater, tankless heaters are an increasingly popular option. Instead of storing hot water in a tank, these units heat water as it flows through the device.

The advantages include high energy efficiency, no standby heat loss, a long lifespan, and endless hot water. However, they do have a higher initial cost and may require larger gas lines or electrical service to operate. They may not be able to supply enough hot water for simultaneous multiple uses.

With proper maintenance, tankless units can last up to 20 years or more.

Solar Water Heater

Another option is a solar water heater, which uses energy from the sun to heat water that is stored in a tank for later use. These types of heaters have high energy efficiency, no emissions, a long lifespan, and low operating costs.

But, they have high initial costs, are weather dependent, require maintenance, and may not be able to supply enough hot water in cloudy or cold weather conditions. Solar water heaters will usually last 20 to 30 yeas on average.

Heat Pump Water Heater

A heat pump water heater uses electricity to move heat from the air or ground to heat water. These have high energy efficiency, a long lifespan, and no emissions.

However, they have high initial costs, are weather dependent, and may not be able to supply enough hot water in cold weather conditions. Heat pump water heaters can last anywhere from 10 to 15 years on average.

Hybrid Water Heater

A Hybrid water heater combines the features of a conventional storage water heater with a heat pump to enhance the efficiency of the unit. They have high energy efficiency, long lifespan, and no emissions.

However, they have high initial costs, are weather dependent, require maintenance, and may not be able to supply enough hot water in cold weather conditions. The lifespan of a Hybrid water heater can range from 10 to 15 years on average.

Point of Use Water Heaters

Point-of-use water heaters are small, compact water heaters that are designed to heat water at a specific location. Instead of heating a large volume, they heat a small amount of water for a bathroom or kitchen sink.

They are energy efficient, compact, and can provide hot water at specific locations instantly. However, they have a limited hot water supply. They are also not suitable for a large household or multiple simultaneous uses. Point-of-use water heaters will last between 10 and 15 years with proper maintenance.

Tips for Picking the Right Style for Your Home

When choosing a water heater for your home, there are several factors to consider:

1. Size: Make sure you choose a water heater that is the right size for your household. A water heater that is too small will not be able to keep up with the hot water demand, while a water heater that is too large will be less energy efficient.
2. Energy efficiency: Look for water heaters that have high energy efficiency ratings. This will help you to save money on energy costs in the long run.
3. Fuel type: Consider the type of fuel that is available in your area and choose a water heater that runs on that fuel. Gas and electric water heaters are the most common, but solar and heat pump water heaters are also available.
4. Recovery rate: Recovery rate is the amount of hot water a water heater can produce in an hour. Make sure the water heater you choose has a recovery rate that meets your hot water needs.
5. Space requirements: Make sure you have enough space to accommodate the water heater you choose. Tankless units are smaller than conventional storage water heaters and can be a good option if space is limited.
6. Cost: The cost of the water heater is an important factor to consider. Look for a water heater that fits your budget and provides the features you need.
7. Brand reputation and warranty: Research the reputation of the brand and the warranty offered before purchasing the water heater. A good warranty can give you peace of mind, knowing that you are covered in case of any defects or issues.

It’s important to note that the cost and the efficiency of each type of water heater can vary depending on different factors such as size, brand, and location. It’s always best to consult a professional to determine the best option for your specific needs.

Need professional help? Find a local Best Pick® plumber in your area now.