Tankless Water Heaters: A Good Investment for Your Home?

Advanced heating and cooling equipment may save energy, but new models don’t always make financial sense for homeowners. It is important to take a look at purchase and installation costs as well as the benefits of lower utility bills for the life of the equipment. To address the problem of wasteful tank water heaters, you may consider a tankless model. Here are the benefits you may enjoy from an upgrade.

Benefits of Tankless Water Heaters

According to the U.S. Department of Energy, water heating is the second biggest expense for homeowners, costing up to 18 percent of your utility bill. Since tank water heaters (also called storage heaters) heat and hold large amounts of water you don’t use, a great deal of this energy is wasted over the course of a year. A tankless model eliminates this problem and offers other benefits.

  • Hot Water Only When You Need It. Tankless models supply hot water on demand to eliminate the need for constant heating. This system can save families over 30 percent on water heating costs, which amounts to more than $100 a year for many homes.
  • Limitless Hot Water. Since there is no tank to empty, the tankless system gives you a limitless supply of hot water. You can run the dishwasher while people are showering or have several family members take showers one after the other without sacrificing comfort.
  • Tankless Water Heaters Save Space. Maybe the most obvious advantage of a tankless heater is the amount of space it saves over storage heaters. Rather than making room for a 6-foot tank that is several feet wide, a tankless model only needs a few feet of space.
  • Tankless is the Greener Option. If you are concerned about greenhouse gas emissions, a water storage tank is the worst system for your home. Tankless models save a great deal of energy, so they cut down on your home’s emissions and reduce your carbon footprint.

Best Situation for Tankless Water Heaters

If you have an efficient heat pump, switching to a tankless model may not save you money once you factor in the cost of purchase and installation. However, switching from a wasteful old tank water heater will almost always be a good investment.

  • Replacing Old Water Heaters. An old storage tank is inefficient when it comes to heating water and presents a risk of flooding your home when it fails. Upgrading to a tankless model will save you big on energy costs and remove this risk.
  • Total Life Span. Since a tankless model can last more than 20 years, these water heaters are one of the most durable options. Depending on how long you plan to stay, it may be the last water heater you buy. Calculate savings over the entire life span of the heater.
  • Meeting Your Family’s Needs. Some families are better off with two tankless heaters to meet the demand and layout of a home. Since the upfront costs of tankless models have dropped in recent years, you don’t have to worry about the initial investment.

Let Reliable Heating and Air assess your water heater needs and suggest the best model for your home. Georgia residents have many options these days, and tankless water heaters may be the perfect solution for you.

Image source: Flickr

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