Given a passage and a query based on the passage, generate an unambiguous, concise and simple answer to the query from information in the passage. Note that the answer may not be present in exact form.
Q: Let's say you spend $2,000 to purchase and install a tankless water heater. If your annual savings are $100, it would take 20 years - the approximate lifespan of a tankless water heater - to recoup the cost in energy savings. Tankless Water Heaters Pros . Compact - Tankless water heaters are small and compact. They fit into tight spaces such as underneath the sink or in a closet. Often, they can be mounted to the wall. Energy efficient - According to ConsumerReports, tankless water heaters, on average, are 22 percent more energy efficient than traditional water heaters. No waiting for hot water - Tankless hot water heaters instantly heat the water you need. You're not limited to the capacity of a holding tank. Long lifespan - Tankless water heaters last about 20 years, compared to an average of about 10 to 15 with conventional water heaters. If your annual savings are $100, it would take 20 years - the approximate lifespan of a tankless water heater - to recoup the cost in energy savings. Tankless Water Heaters Pros Compact - Tankless water heaters are small and compact. How Much Does A Tankless Water Heater Cost To Install And Operate? A tankless water heater can be a bit pricey. Tankless water heaters can range from $300 to $1100 or more depending upon the model. Gas tankless water heaters are typically a little cheaper. Tankless water heaters are more complicated than traditional models and have more electronics. Additional Costs for Tankless Gas Water Heaters. If you plan to install a gas tankless water heater, you'll also have to factor in the cost for venting to the outside and any needed electrical requirements. If you do not already have an outside vent, this installation can get a little pricey depending upon the length of the vent needed and any cutting that needs to be done. I really like my tankless gas water heater. I've had it over a year now. It uses about 40% less gas a month. Even though the initial cost is high, you can get a $300 tax credit on your income taxes. That helps. Over time, however, tankless water heaters do save money. Because of these factors, there's no simple answer as to how much money you can save. A tankless system can save 25% to 60% on your water heating bill, which can account for 30% or more of your overall utility bills. A tankless water heater, or on-demand water heater, typically weighs about 25 pounds and can be mounted on a wall taking up about two square feet of wall space. This versatility means that these units can fit practically anywhere, often freeing up valuable space in garages and closets. As you've probably noted, the price can range from $340 to the thousands of dollars. Financially speaking, tankless heaters can last up to 20 years (most regular water heaters have to be replaced every 10). The useage savings depends, obviously, on how much hot water you use. Depending upon your geographical location, usage, the cost of the system, the installation costs, and the differences between your old water heater and your new one, the amount of time to recoup your investment can vary greatly. just now. 1 I really like my tankless gas water heater. 2 I don't have one but I know people who do, and I am also considering getting one. 3 Definitely get a gas one, there are too many problems with electric ones and consistent heat. 4 Tankles warm water heaters are large it is distinctly much all they use in Germany. Query: how long will it take to recoup cost of tankless water heater
A:
It would take 20 years - the approximate lifespan of a tankless water heater - to recoup the cost in energy savings.