Thinking of upgrading or replacing your conventional water heater with a “tankless” model? Tankless water heaters, also called “on demand” water heaters are designed to only heat the water you need at the time you turn on the faucet. There is no storage of hot water involved, which means there is no need for an actual tank. If you are considering an investment in a tankless water heater for your home, here are some pros and cons to think about.
With an on demand water heater, you don’t have to wait for the hot water to heat up. It’s readily available to you when you want it because your electricity or gas burner warms the water. Unlike a traditional water heater that must continually heat water, your tankless model only uses energy when you demand it. This works out to a cost savings of up to 35% on your energy bill. With less time of letting your sink or faucet run waiting on hot water, the less water you will use in your home – which means a notable savings on your monthly water bill too!
Besides the savings in time and energy, your tankless water heater can also save you space. Many homeowners welcome the option of getting a tankless water heater simply because they do not have adequate space for a conventional storage tank. This may be especially true when you finish out your basement and find yourself wanting to maximize every square inch into livable space.
Cons of Going Tankless
One of the drawbacks of an on demand water heater is that the flow rates can often be limited or restricted. This may be more evident when you are using the washing machine and shower at the same time. If you have a large family and maximum flow rate is important to you, you can still go tankless and solve the issue. You’ll need to simply install multiple tankless water heaters in your home so that the demand is adequately met. Many homeowners choose to have a water heater for their kitchen and laundry appliances as well as a unit for their upstairs bathrooms.
Another setback of going tankless is the upfront cost. Tankless units are notably more expensive than traditional water heaters. However, you should strongly consider the savings per year on energy and water. In fact, according to ENERGY STAR® a family of four can save upwards of $100 per year or more when using a tankless water heater! Not only do you get a more long-term return on your investment with a tankless heater, but they tend to last much longer too. A traditional water heater often wears out after about 10 years, but a newer tankless model can double that lifespan!
As you can see, the cons of going tankless are quickly solved or outweighed by the benefits. However, in the end, it always comes down to a matter of personal preference for each homeowner. If you’d like to learn more about how a tankless water heater would work in your home, please call Metro Septic and Plumbing. We are experts in installing and repairing all types of water heaters.