Water Heater Cost & Savings Calculator
Water heater cost & savings calculator
Compare tank, tankless and heat pump water heaters: installed price, rebates, running cost and payback.
Your estimate · Atlanta, GA
- Hot water used a year
- 21,900 gallons
- 20 gallons per person per day
- Running cost: gas tank
- $299 a year
- UEF 0.62
- Running cost: gas tankless
- $199 a year
- saves about $100 a year
- Running cost: heat pump water heater
- $182 a year
- saves about $117 a year
- Tank replacement installed
- $1,400–$3,750
- installed, 40–50 gal tank · estimate
- Tankless installed
- $3,000–$6,950
- installed, gas tankless · estimate
- Heat pump water heater installed
- $2,700–$5,900
- installed, before rebates · estimate
- Heat pump rebates
- − $1,000
- Utility heat pump water heater rebates (conditions apply)
- Tankless payback vs a new tank
- 24.0 years
- $2,400 extra cost ÷ $100 a year saved
- Heat pump payback vs a new tank
- 6.2 years
- $725 extra cost (after rebates) ÷ $117 a year saved
- At 10 years your current heater is at or past the typical 11-year tank life: plan the replacement before it fails.
Estimates with stated assumptions, not a quote. Hourly rates, service-call fees and water prices come from the data layer (Atlanta); prices are market guidance and licensing is set by your state, so confirm permits and current rates with the plumber. Incentives: utility rebates for ENERGY STAR heat pump water heaters, WaterSense toilet and fixture rebates from water utilities, and state programs where they exist. The federal 25C credit ended for equipment placed in service after 2025, so confirm current federal, state and utility incentives before relying on any figure.
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