EcoSmart electric tankless water heaters are commonly used to save space and avoid standby losses, but they can be sensitive to electrical capacity and water conditions. Energy.gov indicates tankless water heaters typically last more than 20 years; using 20 years provides a conservative baseline.
Repairs under the threshold are often reasonable for common service parts such as heating elements, sensors, or a control board-especially when the unit has been protected from scale with periodic maintenance and filtration in hard-water regions. Replacement becomes more attractive if the unit repeatedly trips breakers, shows recurring flow/temperature errors, or requires multiple parts at once, since those issues can indicate broader electrical or scaling stress that may recur.
Also consider whether the heater was properly sized for your home's peak hot-water demand; undersized systems can "seem broken" when they're actually capacity-limited. The replacement price reflects a representative mid-market tankless unit price from major retailer listings; installation costs may include electrical panel upgrades and permits.