The tankless style heater costs at least twice as much as a tank-type unit. Natural or propane gas types are slightly more expensive ($1,000 to$1,500) than electric variants ($500 to $1,500). I'll be honest; when I first explored the idea of switching to a tankless water heater, the higher upfront cost was a bit of a shock.. The unit. The typical cost of an electric tankless water heater that supplies an entire house is $450 to $1,500. For a gas unit, expect to pay from $500 to $2,000. An HPWH costs $1,200 to $2,500 for an electric water heater and $1,400 to $3,000 for gas.

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Tankless: We factored in an installation cost of $1,250 for a gas tankless and slightly less, $1,150, for an electric. Using a natural gas rate of $10.86 per 1,000 cubic feet, we calculated that.. Both heat pump water heaters and tankless water heaters offer advantages in terms of energy efficiency and environmental impact: Energy Efficiency: Heat pump water heaters are known for their high energy efficiency since they extract heat from the air. Tankless water heaters are also energy-efficient due to their on-demand heating mechanism.