Look around for water heaters, and you will discover that prices can vary from as little as a few hundred dollars to as much as a few thousand dollars. Researching water heater prices is not something that you can do haphazardly. After all, heating water can account for as much as 1/3 of your home’s energy costs.
So, how do you know if the price you’re paying is the right one?
Start by learning and applying these water heater pricing facts:
– Electric water heater prices are typically the lowest, but these machines also usually use up the most energy.
– On average, solar water heater prices are the highest, but they can also dramatically reduce your energy bills because they use power from the sun instead of electricity or gas.
– In many cases, tankless water heater prices are higher than the price of tank models. However, the money a tankless unit can save you in energy costs may actually wind up costing you less in the end.
– Quality manufacturers tend to charge higher water heater prices. So, Rheem and AO Smith water heater prices are going to be higher than some no-name brand’s price – but you will get a much better product for your money.
– The size and the features that you want will play a huge role in the water heater prices that you will wind up paying.
As common sense would dictate, an 80 gallon tank water heater will cost you a whole lot more than a 40 gallon tank model will. However, there are plenty of other variables that can affect your water heater prices that you may not even know about, like:
– Buying a newer model than the water heater you currently own can cost you more money. However, newer water heaters tend to be more efficient – so they can save you money on energy costs down the road.
– Bigger or more complex water heaters can come with higher installation costs. If your installer has to do something like add a vent, re-size your supply lines, or make any other major changes, it can make your initial water heater prices go up considerably.
– The effect of tankless water heaters. Sure, they can provide you with an endless supply of water, unlike tanks that can run out of hot water. And, they can save energy by not having to heat up an entire tank’s worth of water. However, tankless water heater prices can be nearly double those of their traditional tank counterparts. Plus, tankless water heaters have more complex parts than older models, so they tend to need more maintenance. If you want the added convenience and technology that tankless water heaters bring, you will have to pay for it!
So, is it possible to pay too much?
When it comes to water heater prices, it is important to figure out how much hot water you really need. After all, the last thing you want to do is spend more money than you have to!
Typically, two people can get by comfortably with a 30-40 gallon tank. But, if you have a few kids – or a few roommates – you will need a bigger water heater. A family of 5 can need something as big as a 50-80 gallon tank.
When you’re trying to figure out how much hot water you need, you have to look at the big picture. Remember, you don’t just need hot water for your shower. You also need it to run the dishwasher and the washing machine.
In order to make sure that you don’t spend too much on your water heater, look at the “first-hour rating” – or, the amount of hot water the machine can produce in an hour. If that rating seems like too much, you can probably downsize to a smaller unit.