A: Tankless water heater installation in Riverview 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 and frame homes from the 2005 to present sometimes need minor plumbing upgrades. We provide free estimates and offer financing to make the upgrade affordable for Riverview homeowners.