Tankless installation estimate was $5,500. Tank replacement $1,100.
$4,400 difference.
At $20/month in energy savings (posted by another person) it would have taken 220 months, or 18 YEARS, to recoup the extra costs.
The reason for the high cost? Extra venting required, larger gas line, increased cost of equipment.
I stayed with a tank.
According to our heating & a/c guy, the number one reason that most people are unhappy with their tankless water heater, is because the company doing the installation either doesn't let them know that they need to make sure that their current gas line meter is large enough to handle the tankless heater or the customer chooses not to upgrade their meter.
He said, if you aren't going to upgrade your meter, you are just wasting your money. The tankless unit will not work the way it is designed to if your trying to feed it and all your other gas appliances with a meter that doesn't allow the needed gas to come into the lines.

