Tankless Water Heater

At first glance, there are many reasons why homeowners would want to choose a tankless water heater over the traditional tank model. They are space and energy efficient, while providing on-demand hot water for the entire home. However, while tankless is a great option for many households, tank models are fighting back with new EnergyStar rated models which are less expensive than tankless versions. If you are considering the installation of a tankless water heater, consider these points. 

  • Gas heated. Although the gas heated tankless water heaters are very efficient, those that run on electricity are not as energy friendly.
     
  • Save money on energy bills. Since tankless models only heat water on demand, they can save average households about $100 or more per year.
     
  • Initial cost is higher. Tankless water heaters typically range between $700-$1,500 while tank models range between $500-$800. Additionally, in replacement situations, there will need to be retrofits for plumbing. In new construction projects, installation costs will be comparable between both models.
     
  • Durable. Tankless water heaters can last for 20 years or more. With an average savings of $100 per year over tank models, these appliances will most likely pay for themselves over their lifetimes.
     
  • No water storage. One of the biggest selling points of tankless heaters is the lack of a large water tank in which water needs to be stored. This can reduce the likelihood of water damage from leaks or tank damage. 

There is no right or wrong answer when it comes to choosing the most appropriate water heater to suit the needs of your individual household. However, in new construction homes with access to gas, they seem to be the best option for an energy efficient water heater which will last for decades.

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