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Cost to replace gas water heater with hybrid electric water heater

last month
last modified: last month

Have a 28 year old gas water heater that seems to be working fine but assume it's going to go one of these days. Rather than waiting, would like to replace it with a hybrid electric water heater. However, have gotten two quotes and seem expensive. One was from a HVAC dealer who also does Hot Water heaters (listed on the Energy Star website...closest to me) and they are asking $5600 total, $2600 for materials and $3000 for labor. Also contacted Home Depot who referred me to an installer who gave me a ball park figure of $3000 initially then later said that installation cost is $970 but that replacing electric with gas would cost more, conservative estimate $2000, but could go up to the $3000. And hybrid tank I was looking at is $1690, so would cost total $3600 to $4600.

And these quotes to not include installing an electric line with a 30 amp double breaker which I received one quote for around $1000. Though I would love to switch away from Gas (I have a solar panels on the house), not sure if I want to spend this amount of money to do so if this is the cost I can expect. Wonder if anybody has any feedback about these costs. Thanks

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