If you’re replacing an existing hot water system with the same type in the same position, installation costs are relatively low, in the range of $220 to $660. If additional valves are required, or if plumbing or electrical systems require upgrades, costs will be higher.
If you need to reposition your hot water system to a different site on the property, installation costs could be another $1000 to $2000 depending on the plumbing and electrical work required.
Changing energy type, for example, switching from electric to gas, will require additional work and cost in the realm of $1500 to $3000. If you are upgrading the size of your system, additional plumbing and electrical work may be required.