Home improvements designed to increase efficiency and cut running costs are always popular so it’s no surprise that tankless water heaters continue to be a hot topic. Energy efficiency isn’t the only factor to consider. The financial implications are very important for many people too. The average tankless water heater costs between $1400 and $2500 to install which is no small change, but it can save you more money in the long-run. In fact, studies have shown that a tankless water heater can save you around $108 per year. Considering the average American household spends $400 – $600 on heating water every year, this is a considerable saving.
Manufacturers of tankless water heaters claim that they offer many benefits when compared to traditional heating systems, but it all depends on which works best for you and your home.
Tankless Vs Traditional Water Heaters
Traditional and tankless water systems offer distinct benefits and are suited to different situations. A traditional storage heater will hold anywhere between 20 and 80 gallons of water. It will heat the whole tank and keep it warm until it is used. These traditional water heaters are reliable and provide enough hot water for doing everyday necessities such as running the dishwasher and showering with ease. The downside of a traditional water heater is they take up a large space in your home and use excess energy however, they have lower upfront costs than their tankless counterparts and are easier to install.
Tankless water heaters, in contrast, have a longer lifespan of 15 to 20 years as opposed to 10 to 15 years. They supply hot water instantly and waste less energy. In addition, over time the homeowner will recoup much if not all of the higher installation cost with energy savings. Likewise, the higher upfront costs and difficult installation often offset the convenient size for many people.
The Pros and Cons of Tankless Water Heaters
To break it down, a tankless water heating system differs from a traditional storage tank in many ways and offers its own list of pros and cons.
Pros of Tankless Water Heaters
- Long lifespan (15 – 20 years)
- Takes up minimal space (They can often fit under the kitchen sink)
- More energy efficient (By around 20% in many cases).
- Provides hot water instantly
- Can save the average household between $44 and $108 in water heating costs
- May be eligible for a tax break or financing
- Eliminates water ‘standby’ loss
- Available in gas and electric
- You will never run out of hot water
Cons of Tankless Water Heaters
- Higher installation costs
- May require additional equipment
- Not suitable for supplying many appliances at once
- The non-traditional set-up may mean you need to re-route gas or electricity lines
- Changing your water usage habits could offer the same savings in the long-term (without the upfront costs)
- If there is ever a loss of power there will be no hot water as opposed to with natural gas tank there will still be hot water.
If you’re not sure whether a tankless water heating system is right for you, or if you’re mostly concerned with the financial benefits, contact a reputable Las Vegas plumbing company that can guide you through the process. At Rebel Refrigeration, our team of experts will help you determine the best choice for you and your home. Contact us at (702) 766-9436 or email us for more information or to schedule an appointment today!