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Many consumers question if shifting to tankless water heater will really help lower their electric or gas bill. While this is just normal, the main reason for being skeptic at first would be the huge cost that one must consider when they have decided to buy one.

Traditional water heaters may require you to spend about $500 to be able to set-up the equipment and have it ready for use. It is also most of the time compatible for the current setting that you may have at home so expenses on repairs and upgrades are very minimal or none. On the other hand, considering a tankless water heater would likely be more than $1000 just to get the unit itself. This does not include still the installation cost and any other materials that may be required for most upgrades.

Looking at these initial comparisons, tankless water heaters clearly may cost …