Geiger Service Associates

Tankless heaters are 22 percent more efficient energy-wise compared to previous storage tank models. According to Consumer Reports,Since tankless models are more in demand due to their energy efficient status, they are at a higher demand, thus be prepared to spend a more. To convert your existing system into a new one, expect to pay more in the conversion process. The typical conversion can run anywhere from $400 to $3000, while a conventional model ranges from $150 to $1000. Additionally the installation costs are higher. You can be looking at $300 to $800 for installation and supplies required for installing a tankless system.