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Heat pump water heaters can use as much as 60 % less electricity than conventional styles of water heaters. Not which includes installation prices, which may run more than $1000, a tankless unit will expense in between $500 and $1500 despite the fact that a standard water heater is often around $300 to $700. Titan tankless water heater heats water as it really is required, in contrast to a regular heater which holds a big quantity of heated water at all occasions.