Tankless water heaters may not be as common as traditional tank-style water heaters, but they are becoming more popular. Oftentimes, the decision to upgrade to a tankless heater comes down to money and how much it costs to operate these appliances. Keep reading for an inside look at how much it will cost you to run a tankless unit compared to a traditional model.
When tankless water heaters came onto the scene years back, they were considered a luxury item–something only those with disposable income could afford. But now that prices have been cut in half from their initial price tags, more people can consider giving one of these units a try in their homes or businesses. In addition to being affordable, tankless heating is an environmentally friendly option that can save you money.
More than one in ten homes use tankless water heaters instead of the traditional storage-type heaters to heat up their water, but is it better for you?
Advantages of A Tankless Water Heater
Tankless Water Heaters are becoming increasingly common in households and in businesses all over the world. They provide a wide range of advantages compared to your traditional water heaters. Here are a few of the advantages of a tankless water heater.
One of the main advantages of installing a tankless water heater unit in your home is that it only heats up water as you need it. On average, these units can provide an endless supply of hot water and use less energy than traditional storage-type heaters. Depending on where you live and what time of year it is, tankless units will prove to be more energy-efficient and energy savings in the long run.
Another advantage you gain when switching to tankless water heaters is that it is environmentally friendly. Traditional storage-type tanks rely on fossil fuels such as natural gas, oil, and propane in order to generate electricity. These fuels are nonrenewable sources, so eventually they will run out. But since you only heat up water as it is being used, you are not wasting energy and are lessening your carbon footprint on the environment.
One of the most important benefits of owning a tankless unit is that it has a much longer lifespan than conventional water heaters. Tank units will last around 10 years, while you can expect 20 years out of your tankless appliance. This means that the initial investment you make when purchasing one of these appliances can be recouped in 15 years.
Takes Up Less Space
One of the best advantages of tankless water heaters is that it takes up less space than a tank-style heater. If you live in an area where your tank can freeze, tankless units are a better fit because there is no cold water that sits in the tank and freezes when temperatures drop. Since tankless units sit on the wall, they can save you up to 15 square feet in floor space compared to tank-style heaters.
Water heats instantly
One of the best features that come with tankless water heaters is that it can provide hot water instantly. No cold water sits in a tank, so the cold and hot valves are not connected. If you need cold water, simply turn on your faucet to get cold water.
Because cold water has never been inside the unit, cold water is instantly hot the second it enters the tankless heater. You can expect cold water from a tankless unit to be ready in seconds compared to waiting minutes for cold water with a traditional storage-type heater.
Disadvantages of A Tankless Water Heater
While there are numerous benefits associated with owning a tankless unit, there are also some disadvantages that you should consider before making the purchase.
Inconsistent Water Temperatures
One of the biggest disadvantages to having a tankless water heater is that you will receive inconsistent water temperatures if multiple outlets are in use. For instance, if someone flushes the toilet while another person showers, both bathrooms will not have access to hot water at the same time.
Higher Installation Costs
Typically, tankless units are more expensive to purchase and install. This additional cost can be offset by having a long lifespan with low maintenance, but you will pay more upfront for the unit itself and for the water heater installation.
Limited Hot Water Supply
Tankless heaters only provide a limited amount of hot water, which can be anywhere from two to six gallons depending on the size and model that you buy. If multiple people need hot water at the same time, you might find yourself waiting for your turn to use the heater
Additional Maintenance Is A Possibility
The most important thing to keep in mind if you are considering a tankless water heater is that additional maintenance may be required. Tankless heaters produce less sediment than conventional water heaters, but the minerals from the sediment can still cause problems over time.
Tankless units require annual flushing to prevent mineral buildup from occurring inside of the heater. This is not required with conventional storage-type water heaters, but it can be a problem if you neglect to flush your tankless unit regularly.
Be sure to ask yourself how willing you are to perform flushing on your tankless unit on an annual basis before making the purchase.
Is A Tankless Water Heater Right For You?
If you are willing to pay the initial installation costs and can handle having inconsistent water temperatures or a limited hot water supply, a tankless water heater may be right for your household. However, if you prefer to avoid additional installation costs, have fewer cold-water issues, and receive unlimited hot water supply at all times, it may be better to stick with a traditional storage-type heater.
In conclusion, each type of water heater has its own set of pros and cons.
While it is ultimately up to you which option is right for your household, keep in mind that tankless units typically have higher installation costs associated with them. For more help on how to decide which water heater is right for you be sure to contact us today to schedule your consultation today!