How much does a tankless water heater cost?

In general most tankless units cost 2 to 2 ½ times as much as conventional tank type water heaters. However, the energy saved typically results in paybacks of a few years or less for a family of four. Tankless units cost more than tanks, but are a better value. They save money every day, provide a high level of performance and safety, and last twice as long as a normal tank type heater.