Deciding whether or not to spend the money to install tankless water heaters in your home can be tough, especially as you weigh out the potential cost of installation. However, if you really consider the savings once the unit or units are installed, you’ll find it can be a worthwhile investment.

The cost of having a tankless unit installed by a professional plumber can save a lot of trouble on your end as you try to determine exactly where to buy a tankless water heater and the correct unit size for your home’s needs. The cost ranges from about $1,250- $6,500. The pricing depends on the size of the unit and whether it is a whole-house unit or a single location unit. While this is considerably greater than the cost of a standard storage tank water heater, you can figure the savings will be phenomenal.

• Lower heating bill – Whether electric or gas, because there is no constant heating of the tank, the cost of your heating bill will go down.
• Lower water bill – Because there is no storage tank to keep filled and water is heated instantly as required, the water bill will decrease.
• Longer lasting – Tankless water heaters last about 2-3 times longer than a general tank water heater, saving you the cost of replacement and installation.
• Less need for repair – Instead of having to repair or replace an entire tank, there are usually only small parts needing repairs on tankless units, making repairs less costly and less frequent.
• Possible rebates – Some states and the US government offer rebates for energy-efficient appliance installation, including tankless water heaters.

Overall, it may seem like a steep cost for the initial purchase and installation of tankless water heaters, but the new instantaneous water heaters have far too many advantages to write off so easily. Think about the fact that you won’t have to run the water for several minutes, wasting gallons, just waiting for it to warm up. The tap will be instantly hot! And on top of all the savings you’ll get from the installation, you’ll also be “going green”, with less impact on the environment.

The options are clear. While you may not feel ready to put forth the money for tankless water heaters right away, as you notice your conventional water heater begin to fail, it might be in your best interest to start saving for tankless water heaters as your old water heater needs to be replaced. The investment can save you a lot of hassle and a lot of money in the years to come.