27 Jul. 20

What is the Cost of Installing Tankless Water Heaters in Toronto?

There is a pretty good chance that you’re paying a good chunk of change for an ineffective heating system. Many people say tanks are still useful, and they were — 20 years ago. But now the world is moving into the next big, energy-saving technology; tankless water heaters. However, they are a relatively recent invention, so it’s normal to wonder about the cost of installing tankless water heaters. 

In just a few paragraphs, we’ll be discussing the details of tankless water heaters installations. We’ll tackle what tankless water heaters do, their benefits, how they work and how they’re installed. 

That’s not all. We will also explore how much they cost (the heater and installation) and where to get tankless water heater installation near you.

What is a Tankless Water Heater? 

Did you know that the average Canadian uses up to 329 litres of water per day? A significant amount of it is spent in the bathroom under the showerhead. 

You deserve to have that uninterrupted time under the hot spray, but sometimes distractions occur. One of the most frequent and annoying is hot water finishing. 

Tanks have a limited amount of space. Therefore, the amount of water they can hold and heat is limited as well. When the tank is empty, there’s usually no warning before ice-cold water ruins your day. But tankless water heaters can change all of that.

Tankless water heaters don’t need a huge, bulky container to heat water. It’s a machine that heats your water as it flows through pipes and out of your showerhead. In this way, the device can heat your water whenever you want.

Benefits of Tankless Water Heaters

Although the average person does not know the process and cost of installing tankless water heaters, the benefits are still pretty obvious. We’ll start with the first and most significant advantage. 

It saves energy

With tankless water heaters, you can get hot water basically on demand. This means that there’s no need to keep the water warm as tank heaters do. For tank heaters to continuously keep the water they store hot and ready to use, they have to be “on” and continuously heating.

Conversely, tankless water heaters don’t store water but instead heat it as necessary. Therefore, they’re not continually spending energy. This energy can be used for better things. 

We know your shower is essential, but there are better things to spend energy on. Can’t think of anything? Well, at least it’ll decrease your energy bill. 

Tankless water heaters save you money

Energy costs money. We’re bold enough to say that you are losing money for every second that your tank heater works. How? Since your tank heater stores water in a reservoir for later use, it will eventually cool down after heating. 

The tank constantly reheats the water on its own so that when you do need hot water. You can get it. This constant reheating uses a lot of energy. The worst part is that you won’t even know that your bill is increasing. The cost of installing tankless water heaters may be high at first. However, in the long run, this device can save you a lot of money every month. 

This type of water heater saves space

We don’t know where you live, but everyone likes a little more space. Tankless water heaters can help you declutter by getting the big tank that takes up so much space, out of your home. 

Tankless water heaters are several times smaller than tank heaters and can save you a good amount of space. It performs the same functions as the tank but smaller and more efficiently. 

In fact, there’s a chance that the cost of installing tankless water heaters may be cheaper because of this. However, this is only a chance. 

Unlimited hot water

Tank water heaters work by filling up with water from the mains. When the tank has reached maximum capacity, water stops coming in, and then the heating process starts. 

When the tank is done heating, it stops, and if nobody uses the water, it will continue to reheat it periodically. 

Tankless water heaters heat the water as it passes through your mains. That is, it heats water as it flows down to your showerhead. If there’s no demand for hot water, it won’t heat, but when hot water is necessary, it can provide heated water continuously without end. 

Reduces flood risk

While it is pretty rare, tanks do bursts. It can happen with little to no warning, so there’s no way to prepare for it.

The stored water will end up all over your floor, flooding your house. There’s no chance of such a situation happening with a tankless water heater.

It helps the environment

Greenhouse gases are a slow and steady drain on the environment. Electric tankless water heaters don’t emit any of these gases, making them a plus for the environment.  

Long-lasting

A tankless water heater can last five to ten years longer than a tank heater. This saves you more money in the long run. 

Tax rebates 

You may be able to get a sum of money for installing your tankless water heater. This depends on factors that determine eligibility. But you may be able to get some cash to offset the price of your tankless water heater.

How Much Do Tankless Water Heaters Cost in Toronto?

Most tankless water heaters in Toronto cost between $1000 to $3000.  While we can accurately estimate the machine, the cost of installing tankless water heaters is based on the contractor you select. 

Other factors that may change the full price of tankless water heaters are the type of water heater you buy, where you’d like to install it, and the average water demand in your household. 

When discussing how much do tankless water heaters cost, there are other factors involved. We discuss these in the next section.

Factors Affecting the Price of Tankless Water Heaters

The total amount you’ll have to pay for tankless water heater installation services starts with the cost of the device itself. Here’s a breakdown of components that make up that cost.

The Type of tankless water heaters

There are three types of tankless water heaters. Each has its advantages and disadvantages. More importantly, each type has a special price.

Electric heaters

These are one of the most common and most energy-efficient water heaters. If you have an electric tank water heater, it’d be much more comfortable and cheaper to get an electric tankless water heater. 

This is because the wiring is already in place, so it’ll save the contractors and save you some money, thereby reducing the cost of installing your tankless water heater. The venting is also already in place. 

However, tankless electric heaters may not be able to heat water to very high temperatures, primarily if your family uses a large amount of water.

Gas heaters

Gas heaters can better heat a large amount of water quickly than their electric counterparts. This makes them a better option for larger families. 

However, they are more expensive, especially if you choose to buy a more energy-efficient condensing unit. Though, this unit will help you cut down on the cost of installing this tankless water heater eventually.

There are two other types of water heaters: propane and solar. Apart from being much more expensive than the two types above, the cost of installing these tankless water heaters is very high. 

Size

While tankless water heaters aren’t quite as hefty as tanks, they do have some bulk. Depending on the brand, model, flow rate, electrical service and BTU, the size may be relatively large or comparatively small. The larger the heater, the higher the cost. 

Where You Install Tankless Water Heaters

Tankless water heaters can be installed anywhere. You can even install them outside with the help of an anti-freeze kit. For an electric model, wiring in the area you want to install is critical as well. 

All this can lead to a rise in expenses because the amount of equipment and materials also needed increases. 

Venting

The amount and size of the vents required can lead to an increase in costs. To sum it all up, you may spend up to $600 on tankless water heater installation costs.

Why Install Tankless Water Heaters

You might actually make back the money invested in your heater within a few months. Do you know that 15% to 25% of your energy bills is likely the fault of your tank heater? If your tank is old and less energy efficient, it may be eating up more and more of your money. 

If this recurring cost is cut out for a more energy-efficient tankless model, you’ll continuously save money. Because of this, the high tankless water heater installation costs can be seen as an investment.

Some tankless models may even allow you to get a certain amount of money in tax rebates. When you add these advantages, you’ll most likely be able to recover your money in a few years at most, even without the rebate!

Still not convinced? Think of it this way. Why continue spending so much money on an old tank when you can cut costs, gain a more efficient heater and make a profit? An excellent tankless heater will be able to last 15 years if well-maintained. 

Within those 15 years, you’ll still be making a gain on your reduced energy bill. Of course, if you want your machine to last that long,  you’ll need a capable contractor to install your tankless water heater. 

What Tankless Water Heater Should You Buy?

You can only answer this decision. However, the cost of installing tankless water heaters may increase or decrease depending on the characteristics of the model you buy. 

The brand of heater you should buy depends on factors like:

  • The number of people you have in your household
  • How much hot water you use daily. Not only in the bathroom but in the kitchen and with other appliances as well.

Nevertheless, some popular brands of water heaters are:

  • Rinnai
  • EEMax
  • Stiebel
  • Rheem
  • ECOSmart
  • Navien
  • Moritz
  • Eltron
  • Takagi
  • SioGreen

These brands have high ratings and good reviews, so they’re an excellent place to start.

Who Can Install Your Water Heater?

Apart from finding out the cost of installing your tankless water heaters, you also need to find an excellent contractor to award it. For this job, you need a contractor with a proven record of excellence. 

Also, you need a contractor with the skill, information and experience to install tankless water heaters because a single mistake can completely spoil the machine or reduce its efficiency. 

Here are a few steps you can take when looking for a contractor.

Check the phonebook

While this may seem non-essential when searching for a contractor, it can be somewhat useful. 

Local businesses are likely to put their businesses in the phonebook simply because it’s a simple form of advertisement. You can look for plumbing and heating contractors and call around to find out prices and services.

Ask members of your neighbourhood

At least a couple of your neighbours will likely have a tankless water heater. You can ask them which contractor installed their machine and ask for their contact. If you’re unable to get their contact, just get their name. 

Most companies with skilled contractors will have a website where you can interact with them and maybe even get a quote.

Check the internet

Find a contractor near you on the internet. 

For example, a search like “water heater installation Toronto,” may get you the results you want. 

Here are a few tips to remember when searching for contractors. 

  • The cost of installing tankless water heaters varies from contractor to contractor. This is why it’s not advisable to hire one when you’ve not heard from others. If you want to judge the cost of installing your tankless water heaters accurately, you should get the prices from a few reputable contractors and compare them. This way, you’ll be able to get the best deal. 
  • Do you know someone who your favoured contractor has worked for? If you do, then it’s not a bad idea to inspect their work before hiring them.
  • Ensure that you remember to inquire if your selected contractor will be able to obtain the necessary permits and know the local building codes. Codes vary according to are and change from time to time. A contractor needs to keep up with all laws concerning all water heater installations in Toronto

Final Thoughts

Doing all of this may sound bothersome to you, but these are some of the best ways to ensure that the cost of installing tankless water heaters is well worth it. 

Of course, if you want to skip the procedure, then you can just hire us. Check out our water heater/installation services right here. With us handling your installation, you can be sure of success.