Here are our current prices for installing a hot water tank:
40 gallon gas: $1790 (This is the most common size of water heater)
50 gallon gas: $2130 (For homeowners who wish to upgrade)
40 gallon electric: $1820
50 gallon electric: $1980
Removal and recycling of old tank: $30
(Updated April 2022)
Our gas water heaters meet the new energy standards (with an Energy Factor of 0.62 or greater, they use up to 20% less energy than older tanks) and include an 8 year warranty against leakage and a 1 year labour warranty. Our electric water heaters include a 6 year warranty against leakage and a 1 year labour warranty.
In most cases, the above prices include everything necessary to install a hot water tank.
Additional charges may be required if:
- A narrow tank is required. New gas hot water tanks are 20” wide (for the 40 gallon model) and 22” wide (for the 50 gallon model). This is slightly wider than older tanks. If a special thinner model is required, this will cost extra. Power vented models also cost extra.
- Additional fees for permits may be required in some municipalities (call for info).
- An additional fee may apply if the hot water tank has to be transported up a flight of stairs or over a gas line.
How do these prices compare to the competition?
We always believe in putting quality first, even if it means we have to charge a higher price. This is because low quality will usually cost our customers more over the long run. This makes us more expensive than many of our competitors on some of our products and services. However, our hot water tank installation prices are highly competitive. Many of our competitors charge more for hot water tanks, and we don’t know of any well established competitor who charges more than 10% less for hot water tank installations.
Our technician might recommend additional add-ons. These include extended warranties and items (such as drain pans and automatic shut-off valves) that reduce the risk of water damage (these are especially recommended in homes where the tank is located in an area where a leak may cause significant damage). We might also recommend an expansion tank (especially in municipalities where water meters with check valves are being installed, as the tank can be damaged when water expands as it is being heated). These options can increase the costs substantially, but they are optional.
A $200 FortisBC rebate is currently available on Energy Star hot water tanks. See our Energy Star hot water tank special here.
A rebate of up to $1000 is available on tankless water heaters. These systems supply hot water as it is being used and are more energy efficient than tanks. However, they cost over $5000 to install. See our tankless water heaters page to learn more.
A rebate of up to $1500 is available on new combination boilers. These systems replace both your current boiler and hot water tank. They are a good option for homeowners with both an older boiler and hot water tank. See our boilers page for more. Of course, these are not for homes that currently have a furnace.
Schedule your hot water tank replacement by calling 604 GOOD GUY (604 466 3489) or use our online form.
Learn more about why you should choose Good Guys for your water heater installation on our hot water tanks page.