How Much Does It Cost to Replace a Hot Water Tank in Ontario?
Replacing a hot water tank is an important investment for homeowners, ensuring a reliable supply of hot water for daily needs. In fact, worldwide sales for thermal water tanks are projected to rise by 7% around 2024-2030. In Ontario, the cost to replace a hot water tank can vary based on several factors, including the type of tank, installation requirements, and regional pricing differences.
In this blog, we discuss the cost of replacing the hot water tank in detail, along with the other related expenditures.
Factors Affecting the Cost to Replace a Hot Water Tank
There are specific facets that are comprehended to have a tremendous impact on the cost of replacing hot water tanks, and through this section, you will uncover them.
Type of Water Heaters: Storage vs Tankless
Tankless Heating Water Tanks: These hot water tanks conserve energy by heating the water only when needed. Nevertheless, compared to storage water heating tanks, they are a little more expensive to buy and install.
Storage Warm Water Tanks: These less expensive water heating tanks are typically seen in a large number of Ontario houses. They come in a variety of diameters and may be kept in enormous amounts of warm water.
The Capacity or Size of the Water Heater
The size of all kinds of hot water tanks is measured either in litres or gallons. This can surely affect the cost. Water heaters that have a huge capacity will be quite expensive, but they are highly crucial for residences that need a high demand for hot water.
Energy Efficiency
Hot water tanks that have much higher efficiency have a high initial expense but will surely save you funds by lessening the energy bills. At times, you will find warm water tanks that are energy efficient and equipped with certain features, such as practical heating components and excellent insulation.
The Model and Brand of the Water Heater
In Ontario, you will find many different models and brands that offer warm water heaters, and each one of them has a different price tag. If you opt for a hot water tank from a premium brand, you will get outstanding warranties and highly advanced
features. However, it might cost a bit more when compared to hot water tanks from lesser-known companies.
The Installation Complexities
The cost to replace a hot water tank, especially when the unit is of the same size and type as your previous unit, will cost you less. Besides that, the entire replacement work is pretty straightforward. However, the installation work for the hot water tank might need some extra wiring and plumbing work, such as converting the storage tank to tankless. This can increase labor expenses.
Location Precise Aspects of Water Heater
The costs for replacing the warm water tanks will differ greatly in different areas of Ontario because of the differences in the local market status, the number of installers available, and the labor rates.
The Breakdown of Cost for Each Hot Water Tank
Through this section, you will get a clear understanding of the cost of every hot water tank in detail. Take a look!
The Cost of the Equipment
Storage Hot Water Tanks
- 30 gallons to 50 gallons: CAD500 to CAD1000
- 50 gallons to 70 gallons: CAD900 to CAD1500
- Higher Efficiency Storage Water Heaters: CAD1200 to CAD2500
- Point-Of-Use Equipment: CAD200 to CAD700
- Greater Performance Units: CAD1500 to CAD4000
- Entire-House Units: CAD1000 to CAD3000
Installation/Replacement Expenses
Simple set-up or replacement work might run you anywhere from CAD300 to CAD600. CAD700 to CAD2000 will be required for intricate installation tasks, such as switching from storage warm water tanks to detachable systems.
Extra Expenses for Hot Water Tanks
For the permit fees, you have to spend between CAD50 and CAD200. This expenditure will vary greatly depending on the city. You will need to pay a clearing charge of between CAD30 and CAD100 in order to dispose of your outdated water heater tank. There are supplementary costs you need to consider, including:
- Plumbing Expenditures: CAD100 and CAD500.
- Duct Adjustments: CAD100 to CAD5000
- Making Electrical Modifications for Tankless Units: CAD200 to CAD1000
Contemplations for Ontario Residents
By now, you’re mindful of the cost to replace the hot water tank and how much extra you might pay while getting the replacement/installation task done. However, there are certain things that every Ontario resident should consider. These are:
- Regional Restrictions: The city of Ontario has some building regulations and codes that can have a massive influence on the hot water tank replacement work. It’s important to make sure that Canadian homeowners follow all these regulations and codes effectively so that they can avoid getting penalties or fines and ensure safety.
- Energy Refunds: The residents of Ontario might qualify for incentives or rebates when they install a hot water tank that is completely energy-efficient. Ontario Homeowners will get discounts or refunds from programs like the “Home Energy Conservation Program,” which will assist in lowering the overall costs.
- Hot Water Tank Servicing: Routine servicing of the hot water tanks is paramount as it can improve their longevity. During the maintenance work, you must inspect the unit for leaks, take a look at the anode rod, and eliminate all the dirt by flushing the system properly.
Tips for Saving Cost
You can certainly save on the cost of replacing the hot water tank once you follow the tips that are mentioned below:
Do-It-Yourself vs Hiring an Expert
- Advantages of Hiring a Specialist: Experts have all the knowledge and skills to make sure the replacement/installation is conducted in a valid and secure manner. Besides that, many hot water tank manufacturers need a proficient installation that will help preserve the warranty.
- DIY Contemplations: Installing/replacing the warm water heater will let you save on labor expenses significantly. However, installing the system incorrectly will damage the unit, cause safety risks, and even induce inefficiency.
Opt for Off-Season Equipment Setup
You should install the hot water equipment during the off-season months. This is because, during that time, the need for both HVAC specialists and plumbers will be much lower. It will help you get a much better rate during these seasons.
Check the Incentives and Rebates
Many utility businesses and government-based programs provide incentives and rebates. You should check them out. Doing so will let you offset the price of setting up and buying the hot water equipment.
Check Out Different Contractors
You should look around and obtain quotes from different contractors. That way, you can compare all the prices and opt for the one that matches your budget. However, make sure the quotes contain all the elements of the work, such as the removal the outdated equipment, equipment, the permit, and labor.
Finding a Qualified Installer
- Check Reviews and Do Research: You should choose installers who have received positive reviews for their services. Also, don’t forget to conduct some research on their reputation, services, and various other things before contacting them.
- Insurance and Permits: Make sure to choose an installer who carries a license and is also insured to stay protected from potential problems.
- Estimates and Quotes: It’s important to get numerous quotes and compare the services and prices provided. That way, you will find the right installer for yourself.
- Opt for References: You should request contacts from past customers to find out whether or not they were pleased with the installer’s services.
Replacing the Hot Water Tank: The Benefits
Although it might cost you a lot when you aim to replace the water heating equipment, getting it replaced will deliver the subsequent advantages:
- Improves the Performance: New hot water units will give continuous and reliable warm water. It will also lessen the possibility of the water running out when you need it the most.
- Increases the Value of the House: When you install modern hot water equipment, it will greatly increase your residence’s value. Many homebuyers will pay you a lot more if you plan to sell the residential property in the future.
- Lessens the Need for Servicing: You have to conduct periodic repairs and maintenance if the hot water tank is quite aged. Getting a new one will not only diminish the need for servicing but also the repairs.
- Improve the Power Efficiency: The new and modern-day warm water units are much more power efficient. This equipment will help reduce electricity bills and, over time, will offset the purchase price of the warm water unit.
Conclusion
Replacing a hot water tank in Ontario can cost anywhere between CAD 800 to CAD 15,500, depending on the system type and installation factors. Understanding these costs is key to managing your budget wisely. Professional guidance ensures a seamless installation tailored to your unique requirements.
