Tankless Water Heater Pros and Cons List
In the average home, thirty percent of the homes energy budget comes from heating water. Tankless water heaters claim to cut their customers energy cost by more than half compared to regular storage heaters. Many consumers contemplate going tankless when their old water heaters go out or during new home construction. The question is are tankless water heater systems as good as their claims? Here we will examine the pros and cons of going tankless.
Notable Pros of Tankless Water Heaters
1. Hot water
It seems like tankless water heaters never run out of hot water; at least not in our experiences. Tankless water heaters run more efficiently and do not have as much standby heat loss. If you purchase an electric tankless water heater then it won’t produce any greenhouse gases. Many of the units come with remote controls with separate settings on them. Since there is not tank you won’t have to worry about a tank rupturing causing a flood.
There is a federal tax rebate of up to $300 for energy saving appliances like tankless water heaters. Tankless systems only use enough power to heat the amount of water you need right when you have the faucet turned on. By installing a tankless system you will be saving more than 30% of your homes total energy bill.
Most tankless water heaters will last up to ten years longer than a regular tank heater.
There is not tank so yes buying a tankless water heater can be a great space saving tool if you do not have a dedicated space for a tank. Tankless water heaters can be installed on the wall or outdoors if you have a anti-freeze kit. Another space saving feature of a tankless water heater is that I can be installed under a cabinet or in a small closet.
Notable Cons of Tankless Water Heaters
1. Water Is Split
Hot water output is split among all of your household fixtures. If you choose a gas unit they will give off greenhouse gases. Electric units require more energy than gas models. You may have to run the water for a while to get it hot, unlike a tank heater that has hot water sitting waiting for you.
2. Initial Cost
It can cost more than $1500 to purchase and install a tankless water heater unless you have the plumbing no how. Their tanked counterparts cost about $650 installed. High efficiency units can be pricey to purchase. To accommodate the tankless heater you may need a larger natural gas line so our unit gets enough fuel. This does matter for electric units. Stainless steel tubing can be very expensive but it’s required for venting gas and propane units. Just like the extras you may need to buy for gas models; electric models may need some additional circuitry.
Gas unit will require yearly servicing that can be very expensive. Overall electric models are cheaper to install and it is speculated that natural gas is expected to increase in price in the coming years.
4. Space and Installation
If you already have an area with a tank heater then you already have a dedicated space. Unless you need that space for something else, space saving may not be one of your concerns.
The purchase of a tankless water heater has many benefits including saving you on your energy cost. The money you will need to pay up front will easily be offset by the money you will save on your monthly energy cost. Our recommendation: Choose an electric tankless heater. These models run between $500 to $700 which is only a couple hundred dollars more than tank heaters.