How much will a new hot water heater cost?

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Like other appliances, hot water heaters wear out over time and need to be replaced. Since they are not a standard kitchen appliance, many people are not aware of how much they can expect to pay for a new hot water heater. Here are some factors to help you determine hot water heater cost for your situation.

The general range for most prices and models of hot water heaters is $150-$3,500. There is so much variation due to variables like efficiency, size, and brand. To figure out what your new hot water heater cost will be, you will need to get a rough estimate about your hot water usage in the home. On average, 2 people living in a house need a 30-40 gallon hot water heater to meet their needs. If you have a larger home where 5 or more people reside, your usage will increase and require you to have a hot water heater that holds 50-80 gallons.

It is also important to figure out your home's hot water usage when estimating hot water heater cost so that you can find what kind of hourly rating you need. Money is wasted and the operating costs for a hot water heater soar when a hot water heater has to continually heat a tank of water that is not being used. Be sure to get a good feel for how much hot water you will need and buy a tank with a corresponding hourly rating.

Now that you know what size hot water heater you are shopping for, you will need to figure out which type of hot water heater you want depending on the price. The most traditional electric hot water heaters cost $100-$600. If you prefer to power your hot water heater using gas, be prepared to spend $250-$1,000. Then there is the option of tankless hot water heaters that cost anywhere from $200-2,000. If you are feeling green or are working towards self sufficiency, you can invest in solar powered hot water heaters for $1,000-$5,000.

While shopping for a new hot water heater, it is to consider what it will cost you to operate your hot water heater. Some of the less expensive hot water heater models may have an attractive purchase price, however, they may have a low energy efficiency and will add lots of money each month to your power bill. On the other hand, buying a solar powered hot water heater may require you to shell out a large sum of cash upfront and not require you to pay anything in operating costs if your home receives enough sunlight.