Why does a new hot water heater cost so much?
In recent years, a new hot water heater became a little more expensive. New energy guidelines are the biggest reason for the price increase. In the short run, this means a new water heater purchased after April 2015 will cost more. In the long run, you could be saving money on your utility bill.
Heating water is the second largest energy expense in most homes. It’s no surprise that purchasing a new hot water heater that follows strict energy guidelines can save you money on your utility bills while being better for the earth. According to the Department of Energy, one of the reasons the manufacturing and design guidelines were updated was to reduce the amount of carbon dioxide emissions.
If you’re in the market for a new hot water heater, consider the impacts of the Department of Energy’s requirements. While your new heater may be better for conservation, the heater itself may change in terms of size and cost.
Size of the Water Heater
While the size of your new hot water heater may not increase the price tag too much, it can impact the location your unit will fit. Many homeowners have just enough space set aside for their existing heater. Unfortunately, some of the new water heaters may increase in size by a few inches in diameter. This could cause you to have to relocate your heater if it doesn’t fit where your old one sits. Talk to your plumber before you purchase a new unit to make sure it will work in your space.
Unfortunately, new standards often bring higher price tags. Energy-saving technology is great for the environment and can even save you some money on your utility bill. However, it will cost more upfront.
Depending on your unit’s brand, model, size, and maintenance, it could take anywhere from two to ten years to offset the price tag of a super-efficient model. Talk with your plumber to determine if the energy savings outweigh the price tag.
Plan for Your Purchase
If you have a space for your old water tank and you know the new tank isn’t going to fit, you’ll need to do one of the following options:
Make your space bigger, if possible.
Downsize your water heater tank size
.Relocate your new hot water heater somewhere else in your home.
Talk to your plumber to determine which option makes the most sense. Depending on the size of your family and the layout of your home, some options may be more suitable than others. For example, a family of two could get away with using a smaller tank size than a family of six.