A: Tankless water heater installation in New Port Richey runs $3,158 to $4,371 for Rheem (Premium) gas or $3,935 to $5,010 for Navien (Elite) gas, and $1,369 to $2,260 for Rheem electric or $2,107 to $3,075 for Stiebel Eltron (Elite) electric; modifications are quoted in writing. Converting from a tank to tankless may require new gas lines, venting, or electrical work. concrete block homes from the 1960s to 1990s sometimes need minor plumbing upgrades. We provide free estimates and offer financing to make the upgrade affordable for New Port Richey homeowners.