Most homeowners spend very little time thinking about their water heaters and how they work until the water runs cold. It’s always a good idea to have your water heater inspected at least once every year and repair or replace it as needed. When repairs become too much, or when there’s simply no avoiding a replacement, tankless water heaters offer benefits that your conventional water heater simply cannot provide.
Convenience
Many homeowners make the switch to a tankless water heater because it’s simply more convenient than the conventional option, which requires a 20- to 40-gallon storage tank hidden in a closet or attic. Many families find that there’s simply not enough hot water to go around, so they end up waiting for a new tank of hot water between showers or loads of laundry. Tankless water heaters provide on-demand hot water, which means it will never run out. Installing a recirculation pump ensures that the hot water is delivered quickly, even when the tank is several rooms away. The convenience is incredible, and most homeowners who make the switch are completely satisfied with their results.
Energy Efficiency & Energy Bill Savings
Another amazing benefit associated with tankless water heaters is the energy savings. According to the US Department of Energy, tankless options can be 24% to 34% more energy efficient in homes using 41 gallons or fewer of hot water daily. In homes using far more hot water – closer to 90 gallons per day – tankless water heaters save anywhere from 8% to 14%. These energy savings translate to money savings, as well, by reducing energy bills significantly.
Initial Cost & Return on Investment
It is important to note that the initial cost associated with installing a tankless water heater is significantly greater than the cost of installing a traditional water heater with a standby tank, and this can sometimes cause homeowners to hesitate. Despite this initial cost, homeowners can expect a significant return on their investment. Remember that traditional storage water heaters create standby heat losses because despite the insulation, the tanks do lose heat over time. They also need to be replaced, repaired, and maintained more frequently in order to be safe and operate at their maximum efficiency.
Tankless water heaters are different in that there is no standby heat loss, which saves energy and money. Furthermore, because these tanks require very little maintenance and last much longer than standard storage water heaters, there is the potential to save hundreds (if not thousands) of dollars over the lifetime of the heater. In fact, tankless water heaters last an average of 20 years and are manufactured with parts that can be easily replaced to further extend that lifespan.
Safety
One of the most important benefits associated with tankless water heaters is increased safety. Traditional water heaters with storage tanks are notorious for leaking and flooding homes. In some cases, overflow valves can fail, leading to significant property damage and even injury. Tankless water heaters eliminate these risks, and while it’s true that they cost more up front, it’s difficult to put a price on peace of mind.
In conclusion, switching to a tankless water heater may cost more upfront. This can be viewed as an investment in convenience, safety, and energy savings, and over the course of the 20 to 30 years they last, they will pay for themselves – and then some. Talk to your local tankless water heater installation company for more information and to find the perfect heater for your household’s individual needs.