A few years ago, tankless water heaters became a popular choice for homeowners looking to save on their energy bills and create more space. Standard water heaters heat on a continuous basis, whereas tankless water heaters only heat when needed, and the result is about a 20% more efficient water heating system.
But are tankless water heaters all they’re made out to be? The answer really depends on what your needs and personal preferences are. For some, a traditional water heater is still the best option – especially if you don’t want to spend a lot of money up front. For others, a tankless water heater is a great solution if space is limited and you’re looking to save money in the long term.
Here are the benefits of a tankless water heater.
Instant hot water. You’ll never have to wait for the water to heat up with a tankless water heater. That’s perhaps one of the best reasons to invest in this kind of heater. Plus, you’ll never have to worry about running out of hot water, either.
They’re durable. Most tankless water heaters will last about twenty years or even more. That’s about ten years longer than the warranty on the typical traditional water heater.
Lower month to month costs. Homeowners who invest in a tankless water heater can expect to save a significant amount of money annually, as they’re designed to be extremely energy efficient.
They save space. Because most tankless water heaters are mounted on a well in the basement, they’re a great choice for homeowners with limited space.
Special financing and tax breaks. Since they are so efficient, tankless water heaters can qualify you for tax credits. In fact, the federal government will award a 10% tax credit on the cost of buying and installing your tankless water heater.
Longer warranties. Many tankless water heaters come with a 20 year warranty, which can save homeowners money if a repair is needed.
The cons of tankless water heaters
Higher startup costs. Tankless water heaters are significantly higher in price to purchase; most cost double the amount of a traditional water heater. You’ve also got to factor in the cost of installation, which requires a professional experienced in tankless water heater installation.
More equipment required. Often times, additional equipment like a water softener is needed. That can take up more space, and make the cost of the tankless water heater even more expensive.
You may need to reroute gas lines. Installing a tankless water heater may mean needing to reroute your home’s gas lines and you may also need to install venting as well.
As you can see, there are many reasons to use a tankless water heater, and some big reasons not to invest in one as well. Still in the fence about which to choose? Call a professional plumber. We can help you make the right decision for your home and family.