How Much Does A Hot Water Tank Cost?

How Much Does A Hot Water Tank Cost?

Access to hot water is very critical, especially during the cold season. Most residential hot water tanks can last up to 12 years while commercial water heaters can go over 20 years. It’s imperative to have them replaced before they break down. Now, the cost of replacing a hot water heater in your home or commercial space will depend on several factors, such as the type and brand. The overall price will also be affected by labor and installation. For homes, hot water tank replacements can range from $800 to $1600. If it’s a tankless water heater, then you should expect to pay more.

Before you dwell on the hot water tank cost, you might want to check if you really need to buy a new one for your property. The following are some tell-tale signs that it’s time to replace your old hot water system.  

Signs You Need a New Hot Water Tank

While you might be able to fix some hot water tank problems, the majority of the issues listed below require professional inspection and repairs from a reliable plumbing company.

  • Rusty or Metallic Taste of Water – This sign does not automatically mean that your water tank needs replacement. Nevertheless, it’s one of the many things to watch out for. A rusty color and metallic taste are an indication of corrosion, which can be remedied by replacing the anode rod.
  • Leakage – You surely need a new hot water tank when water starts leaking from it. Leaks occur internally and while professionals can repair this problem, it is often cheaper to replace.
  • Water is Not Hot Enough – In some cases, the water is not hot at all. When this happens, the first thing to check is the pilot light. If you know that the heater is switched on, but the water is not getting hot enough, call a professional for an inspection.
  • Frequent Breakdowns – If you keep on calling plumbers to inspect and repair your water heating system, then it’s definitely time to get a new replacement. This will save you more money in the long run than paying for professional repair services.

Factors Affecting Hot Water Tank Costs

To help you set the right expectations, here’s a list of factors that affect the cost of a hot water tank replacement.

  • Type – The two types of water heaters on the market are tank-based and tankless. Between them, the latter is cheaper and easier to install. However, tank-based systems are not that convenient to use. Because it holds water in the tank at a limited capacity, you will have to wait a few hours for the water to get replenished. This is where tankless water heating systems They provide hot water on demand. You can expect hot water in your showers and taps whenever. Despite the high price tag, they have low operating costs.
  • Efficiency Rating – The higher the efficiency rating, the more energy savings you can enjoy. But the thing about high-efficiency hot water systems is that they are more expensive, costing up to $3,000 more than those models with standard efficiency ratings.
  • Brand – Some brands are more expensive than others because they use advanced heating technology and are made with the highest quality materials. Higher-end brands also boast more features.