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Cost to install HPWC

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As @ucmndd stated, the cost will vary widely on your particular setup. The 6 guage wire necessary for the HPWC at 60A is not cheap and it could even be 4 gauge depending on distance. If your run is 5 feet, it's not bad. If it's 40 feet or more, it gets expensive.

For a comparison, I purchased 20 feet of wire and since I had to drill through my block house (as I was installing out door), install a junction block and several right angles, my cost at Home Depot was ~$120. Since I did it myself, labor was free but for comparison's sake it took me about 4 hours...but remember I had to drill and install all those connector/junction boxes. If the HPWC way would have been mounted right next to panel in the garage, I think it would've taken 1/4 of that time. So at say a $50/hr rate I could see anywhere from $300 to over $1000 if the panel is far from the install location. You are certainly on the high side but if the run is far, that might explain it.
 
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I had quotes ranging from $950, to $1,900 (incl new sub panel). I decided to do it myself for $350. Used expensive 4 AWG romex, 60 amp circuit, installed a new sub panel, added whole house surge protection. My run was 35’ to the HPWC.
 
I always ask for a break down of costs. For jobs like this there are typically at least three main categories.
Labor
Materials
Permits/inspections

The labor may have two subcomponents where one item is the time to do the actual work and the second is time to get the paperwork sorted out for permits and potentially attending inspections. The labor cost associated with the actual work being completed could then be divided by the amount of hours you expect it to take to arrive at a dollar per hour figure. Realize that some time will be required to get to your location and even though they aren't billing you directly for that time it is part of their cost. If the dollar per hour figure exceeds $250 you are definitely getting screwed, and in most places 100+ per hour is above normal in my experience. You can and probably should ask the contractor how long they expect this project to take them to expedite the understanding of the labor aspect of the project.

Materials can be a flexible number as sometimes the parts required might change once the job starts but it shouldn't change by a huge percentage.

Permits and inspections should be the same from each contractor. Always a good idea to check with the relevant authority to make sure that you aren't being screwed by not having required inspections done or any other number of ways this can go wrong.



On longer runs it is always a good idea to hear what the electrician is thinking for the path the conduit/cable will be taking and that will help you understand any significant variances in labor. You may choose a contractor because you like their approach even though it costs more to take that approach it might look better or cause less issues with future maintenance items. For example, if the easiest path blocks the water heater from being removed easily, you might want to pay extra to not do that. (made up example, but could happen)

I shop around and am a very capable purchasing person, electrician and mechanic which provides me the leverage to realistically question people on the work and cost required to accomplish many tasks. Any service provider in those fields should have a solid understanding of their labor vs materials breakdown and if they aren't willing or able to reveal that breakdown you should seek out other vendors. It isn't about negotiating with a vendor, it is about finding the right vendor who isn't trying to turn your 1 hour job into a full day pay check. Travel time is a real thing, and that is a consideration, but try to find someone who is near by especially for those small jobs.
 
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