Is it time to replace your home or business water heater? Are you looking at some of the newer options available such as a “tankless” model? Some advertise that tankless heaters will cut your energy costs over half that of regular tank heaters, claiming 22 percent more energy efficiency on average, which could save you an attractive $70 to $80 per year. However, the initial cost of a tankless water heater is much more thana standard storage type water heater and it can take years to break even. Furthermore, there seems to be a great deal of variation in installation costs and energy savings depending on the individual circumstances.
In addition to the potential for savings in energy costs, those who endorse tankless water heater systems also indicate another benefit – the amount of hot water it provides is seemingly endless. However, consumers complain about inconsistent water temperatures and tankless models first release cold water as a gauge to how hot the temperate needs to be. Also, be aware that tankless water heaters do not instantly deliver hot water, as it takes time to heat the water to the desired temperature. Also, unlike gas standard models, prepare to lose hot water during a power outage since a tankless water heater has electric controls.
A tankless heater will cost about three times the cost of a standard heater and average installation costs can be up to four-times higher than standard. Additionally, tankless heaters need more care and it is recommended that they be serviced once a year by a qualified technician. Your local plumbing professional will be able to give you all the pros and cons of various water heating systems that will provide the best fit for your individual needs and budget.
