The cost of installing a new water heater can vary depending on several factors, including the type of water heater, labor costs in your area, any necessary plumbing or electrical work, and additional materials required for installation. On average, the cost to install a new water heater ranges from $2,500 to $8,500. There are a considerable number of rebates available to help reduce the cost of your water heater.
For a tankless water heater, the installation cost is generally higher due to the complexity of the installation process and the higher cost of the unit.
It’s essential to get quotes from multiple reputable contractors in your area to get a more accurate estimate based on your specific needs and circumstances. Additionally, consider any potential rebates, incentives, or financing.