What You Should Know About Tankless Water Heaters
Tankless water heaters have become an increasingly popular equipment option for homeowners. Compared to the traditional storage tank style of water heaters, tankless water heaters offer many benefits. While there are many advantages to installing a tankless system, it may not be the best for your home or situation. Before purchasing a new water heater, consider the points below.
Hot water demand
Tankless water heaters heat water on demand, rather than storing preheated water for use. You’ll wait a little longer for water to heat and travel to the tap, but a tankless model can provide you with an endless supply of hot water, unlike a tank water heater. The downside is, you can’t utilize too many hot water-consuming taps or appliances at once — depending on the capacity of your tankless water heater, it may not be able to keep up with your home’s demands.
Cost is a major factor for most homeowners when making purchase decisions. Tankless water heaters are generally more expensive than storage water heaters. However, don’t let the sticker price get you down. Although tank models have a lower purchase price, tankless water heaters are more efficient and have a longer lifespan offering low, long-term operating costs. Consider the payback period of purchasing either type of hot water heater before making your decision, as you may see that a unit that is more expensive upfront will be cheaper in the long run.
Many state and local utility programs offer incentives to homeowners for installing energy-efficient equipment, such as tankless hot water heaters. These incentives can help offset your installation costs. Contact your utility company or state agency to ask about incentives that you may qualify for when installing a tankless water heater.
A tank water heater requires a certain area for installation, consuming valuable space within the home. Tankless water heaters are much smaller, and typically mounted to the wall. Tankless water heaters are ideal for applications where installation space is limited. If you live in a smaller home or condo, investing in a tankless water heater can make quite a difference in your available space.
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