Are you familiar with water heater costs for various types? Since water heater cost depends on its kind, why not consider the financial aspect when choosing the best water heater?

Here are the tidbits of information about water heaters’ pros and cons that can help you spare a little cash. 

 Different Water Heaters and their Cost

Tank Water Heaters

The tank water heater is a standard water heating method that uses a tank to hold about 50 to 80 gallons in a typical household. Perhaps, it is to fill up water and heat it either by gas or electricity. 

How about the price? The price for this method would roughly be around 250 to 1000 dollars for the gas type and 100 to 600 dollars for electric ones. On the other hand, for the installation price of these types, it would cost about 200 to 400 dollars. However, it depends on the size and the current set-up of the tank.

 Pros:

• Lower initial cost.
• Economical maintenance and repairs.
• Simple and easy to operate.

Cons:

• Can be expensive for operating it using either gas or electricity.
• Needs more space to occupy.
• Can run out of hot water, for it is using the tank as storage.
• Has a shorter life than other water heaters and in need of replacement more often than others.

 Tankless Water Heaters 

The tankless water heater uses high-powered burners to heat water as it runs through a heat exchanger rapidly. Then, it delivers it directly to your faucets and showers. The average total cost of purchasing and installing the tankless water heater is between 3,000 to 5,000 dollars.

 Pros:

• It doesn’t need to reheat your water. Therefore, it saves you money.
• Has a long lifespan.
• It does not consume too much space. Perhaps, you can place it in tight quarters, even on the outside wall of your home.
•  Never run out of hot water.
•  It is efficient to deliver two to three gallons of hot water per minute.

Cons: 

• Higher purchase cost.
• It has a more top installation, maintenance, and repair.
• Can fail when simultaneously taking showers and doing laundry.

 Solar Water Heaters

Solar Water Heater is an energy-efficient water heater since it gets energy from the sun instead of electricity. How does it work? It relies on roof-mounted solar panels as an energy source. Perhaps, it then transfers the energy it collects to a closed-loop system containing a heat-conductive material. As a result, it heats the water in the tank. Also, the total average cost for a solar water heater is between 2,000 to 5,500 dollars.

 Pros:

•  It can save you money from paying a high electric bill.
•  Has low maintenance.
•  Eco-friendly.

Cons:

• Has a high initial purchase and installation costs.
• It is dependent on climate. Perhaps, it might not work for places with cloudy or rainy weather.
•  Requires a backup plan like natural gas or electricity in case the sunlight is inefficient.

Moreover, presented in this article are just a few water heaters types. Thus, you still have many options to decide whether it’s worth the price. Remember to settle for the best!